Alleged debt: Swift Networks, CEO’s bank accounts frozen

The bank accounts of Swift Networks Limited and its managing director, Charles Anudu, have been frozen by a Federal High Court sitting in Lagos.

The court granted Union Bank interim injunction restraining Swift Networks Limited and its agents from accessing funds and assets in banks pending determination of a Motion on Notice in an alleged debt recovery suit.

Justice Yelim Bogoro issued the order on June 19, following a June 11, ex-parte application filed and argued by Gbenga Akinde, counsel for the plaintiff/applicant, Union Bank.

Union Bank listed Swift Networks and its Managing Director, Charles Anudu, as defendants/respondents in suit FHC/L/CS/1010/2024.

The parties have been locked in the alleged debt dispute for a while and it is Union Bank’s case that parties entered into agreement, which was put in writing and signed by parties to amicably resolve the matter.

On July 19, 2023, the court granted Union Bank Mareva orders restraining Swift Networks from accessing funds up to N7 billion in 25 banks to protect.

Following the bank’s latest application, Justice Bogoro restrained the defendants, their directors, staff, management and agents from tampering with, operating, withdrawing from, and/or dealing with the defendants’ alleged funds (whether held directly or by proxy) in any bank and/or financial institution in Nigeria pending hearing and determination of the Motion on Notice.

The judge also directed banks/financial institutions harbouring the defendants’ accounts to depose on oath and furnish the plaintiff or its solicitors, details of credit outstanding in their accounts in seven days of receipt of the order.

Furthermore, the order restrained any electronic payment platforms, or digital and payment service banks, including Interswitch Limited, Interswitch Financial Inclusion Services, Hope Payment Service Bank, 9PSB, Hope PSB, Money Master PSB, MOMO PSB, Smartcash PSB etc.) from processing payments authorised by the defendants, while also barring them from their services to process funds payment.

The order also barred the defendants from tampering with, removing from jurisdiction, or dissipating, their fixed and moveable assets, investments, bonds, shares, pecuniary and other beneficial interests (whether held directly or by proxy) in their custody or in the custody of any bank, financial institution and/companies in Nigeria.

The banks were also mandated to disclose such assets and funds standing to the credit of the defendants in their custody in seven days.

“This suit is hereby adjourned to July 10 for Motion on Notice. Defendants/respondents shall be put on notice,” Justice Bogoro held.

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