The Federal High Court sitting in Lagos has granted Union Bank Plc. an interim order of Injunction restraining Swift Networks Limited and its agents from accessing funds and assets in all banks pending the determination of a Motion on Notice in an alleged debt recovery suit.Justice Yellim Bogoro granted the order after listening to a motion exparte filed by counsel for Union Bank, Gbenga Akinde.
As at 30th day of June, 2023, the 1″ Defendant’s indebtedness to the Plaintiff stood at N7,037,410,548.23 while interest continues to accrue. This constituted a fresh contract which mandatorily created new obligations between parties and substituted and superseded all prior claims with a bid to amicably resolve the matter, but Swift Networks still deliberately refused to honour the agreement and the recent development according to Union Bank, has led to it instituting a fresh action to enforce the new Agreement between the parties.
The judge also directed all Banks/Financial Institutions harbouring the defendants’ accounts to depose on oath and furnish the plaintiff or its firm of solicitors, the details of the credit outstanding in the defendants’ account within 7 days of receipt of the order.
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