A High Court of the Federal Capital Territory (FCT) has granted an interim order freezing the bank accounts of TAK Group, TAK Logistics Limited, TAK Agro PLC, and their director, Thomas Akoh Etuh, over funds totaling N24.9 billion.
The order, made following an ex parte application by Senior Advocate of Nigeria, Mofesomo Tayo-Oyetibo, on behalf of Keystone Bank Limited, also includes a Mareva injunction restraining the defendants from withdrawing, transferring, or dissipating any funds, shares, dividends, or financial instruments in their possession.
The court further directed all banks and financial institutions holding accounts for the defendants to preserve the funds and file affidavits within seven days, disclosing balances and bank statements.
In addition, the defendants were barred from disposing of any movable or immovable assets valued up to N24.9 billion, pending further proceedings in the matter.
The court granted an order for substituted service on the third defendant, Thomas Etuh, allowing service of court documents via courier or by pasting at his known address.
The court ordered as follows: “Restraining the Defendants, whether by themselves, their respective directors, servants, agents, privies, assigns and representatives or otherwise howsoever called, from withdrawing, transferring, dissipating or otherwise howsoever dealing with or accessing funds, shares, dividends or other financial instruments, up to the sum of N24,934,741,718.91 (Twenty-Four Billion, Nine Hundred and Thirty-Four Million, Seven Hundred and Forty-One Thousand, Seven Hundred and Eighteen Naira and Ninety-One Kobo) or any part thereof out of the funds, shares, dividends or other financial instruments standing to their credit in any account maintained with any bank or financial institution.”
The court also directed all banks and financial institutions to immediately comply with the preservation directive, stating:
“That upon the service of this Order on any bank or financial institution, such bank or financial institution shall give immediate effect to the Order by preserving any and all funds, or other financial instruments up to the sum of N24,934,741,718.91 standing for the credit of the 1st Defendant, 2nd Defendant, and 3rd Defendant whose Bank Verification Number is 22273745073.”
Furthermore, the order mandated these institutions to file affidavits within seven days:
“That within 7 (Seven) days of the service of this Order on any bank or financial institution, such bank or financial institution shall file an affidavit in this suit stating the amount(s) standing to the credit of the defendants in any and all account(s) held… including the relevant statements relating to the accounts.”
The court also reaffirmed its restriction on the defendants from transferring, selling, or otherwise dealing with any assets—movable or immovable—up to the same amount.
Additionally, the court approved substituted service of processes on the third defendant either by courier or by posting at his known address.
The interim order will lapse after seven days of service, pending further proceedings.
The matter was adjourned to July 22, 2025, for continuation of hearing.