Court restrains ShopRite directors from selling shares, assets
The Federal High Court in Lagos has restrained the Directors of Retail Supermarkets (ShopRite) from selling the shares or assets of the company until the satisfaction of the judgment debt.
The Federal High Court in Lagos has restrained the Directors of Retail Supermarkets (ShopRite) from selling the shares or assets of the company until the satisfaction of the judgment debt.
The court further directed the directors to disclose all movable and immovable assets to the Judgment Creditor.
The order was made by Justice Ambrose Lewis-Allagoa following an ex-parte application filed on November 21, 2025, in furtherance of a consent judgment entered on July 22, 2025.
The application was moved by counsel to the judgment creditor, Tobenna Nnamani, who urged the court to issue garnishee orders nisi attaching all funds standing to the credit of the judgment debtor across multiple financial institutions.
Relying on the court order, counsel to the judgment creditor has also demanded from Mr Jide Ogundare and other directors details of all the assets of ShopRite, including the Distribution Centre at Ajao, Lagos, and all relevant trademarks. Proceedings will continue on May 7.
