A Federal High Court in Ikoyi, Lagos, has barred directors of Retail Supermarkets (ShopRite) from disposing of company shares or assets pending settlement of a judgment debt. Justice Ambrose Lewis-Allagoa issued the order on November 21, 2025, following an ex parte application by counsel to the judgment creditor, Tobenna Nnamani. The ruling stems from a consent judgment reached on July 22, 2025. The court also directed the directors to disclose all movable and immovable assets to the creditor. Counsel for the creditor has since demanded details of ShopRite's assets, including its Distribution Centre at Ajao, Lagos, and all associated trademarks. Garnishee orders nisi have been issued to financial institutions to attach funds belonging to the judgment debtor. The case was adjourned to May 7, 2026, for further hearing.
The court's intervention to freeze ShopRite directors' assets comes only after a consent judgment failed to yield payment, raising questions about the effectiveness of such agreements. The directors, including Mr Jide Ogundare, now face public scrutiny over their handling of a debt tied to a company once dominant in Nigeria's retail space. If the assets disclosed are insufficient, creditors and employees may bear the fallout. This moment exposes how delayed enforcement can turn a judgment into a prolonged financial limbo.
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