A Federal High Court sitting in Ikoyi, Lagos, has restrained the directors of Retail Supermarkets Nigeria Limited, the operator of the ShopRite chain, from selling or transferring the company’s shares and assets pending full satisfaction of a judgment debt of N92.88 million, and ordered them to make complete disclosure of all the company’s movable and immovable assets to the judgment creditor.
The orders were granted by Justice Ambrose Lewis-Allagoa following an ex parte application filed in November 2025, in furtherance of a consent judgment entered between the parties on July 22, 2025. Counsel to the judgment creditor, Tobenna Nnamani, moved the application and urged the court to issue a garnishee order attaching all funds belonging to the judgment debtor across multiple financial institutions.
The court granted an order nisi attaching all monies standing to the credit of or accruing to the benefit of the judgment debtor in accounts held with various garnishee banks, to the tune of N92,881,855, representing accrued interest at a rate of 20 percent on the original judgment sum arising from the July 2025 consent judgment.
Relying on the court’s directive, counsel to the judgment creditor also demanded that company director Jide Ogundare and other directors provide full details of all ShopRite’s assets, including its distribution centre in Ajao, Lagos, as well as all relevant trademarks and intellectual property. The matter was adjourned to May 7, 2026, for continuation of proceedings.
