‘Indebtedness’: Court freezes accounts of Bryant Orjiako, orders Access Bank to take over all assets

By Abubakar Yunusa

A federal high court in Lagos has granted an ex-parte order freezing the bank accounts of Bryant Orjiako, ex-chairman and co-founder of Seplat Energy Plc, over his alleged indebtedness to Access Bank Plc.
Nicholas Oweibo, the presiding judge, made the order on July 28 while ruling on a motion ex parte filed by Access Bank in a suit marked FHC/L/BK/08/2023.
Twelve companies were joined as respondents in the suit.
They include Seplat Energy Plc, Helko Nigeria Limited, Neimeth International Pharmaceuticals Plc, Salvic Petroleum Resources Limited, Zebbra Energy Limited, and Ordrec Group Limited.
Others are Helko Marine Services Limited, Berwick Nigeria Limited, Abbeycourt Petroleum Company Limited, Abbeycourt Energy Services Limited, Abbeycourt Company Limited, and Pursley Resources Limited.
The court restrained Orjiako, his agents, privies or any other person or group of persons whatsoever, “from operating, withdrawing from or tampering with his funds in any bank and/or financial institution within Nigeria”, pending the hearing and determination of the case.
The court also restrained Orjiakor’s former employers and his other investment vehicles from having anything to do with Orjiako financially until his indebtedness is cleared.
The court further made a consequential order compelling all banks and financial institutions harbouring Orjiako’s account(s) to depose to oath stating the amount standing credit of the debtor in their custody within seven days of being served with a copy of the court order.
The respondents are also restrained from “dealing with shares, investments, bonds, assets, funds howsoever described, belonging to the debtor in their custody or in the custody of any bank/financial institution pending the hearing and final determination of the motion on notice for the appointment of a special manager filed”.
Orjiako and his agents or privies, including the other respondents, must also not move “his funds, investments, bonds, shares, pecuniary and other beneficial interests in all banks, financial institution and/or company in Nigeria principally in Shebah Exploration and Production Company Limited, Allenne Limited” out of the court’s jurisdiction.
Lastly, the court authorised Access Bank “to take over and preserve all the assets of the debtor, whether same may be found, specifically the following properties belonging to the debtor be it directly or via proxy”.