Court restrains Vigeo boss from 17 bank accounts over N8.7bn debt

A Federal High Court in Lagos has restrained a Lagos businessman Mr Victor Osibodu and his company Vigeo limited and their agents from handling money under their control in 17 commercial banks pending the determination of a claim of N8.7 billion suit filed against them by Ecobank.

The court also ordered the affected banks to freeze the accounts of the defendants and they should depose to an affidavit disclosing the nature, value, and balances in their custody.

The court also restrained Mr Victor Osibodu and his agents from dealing in all his movable assets, including shareholding of 80% in the property at 6 Osborne Road Ikoyi Lagos , Shareholding in the sum of N2,578,242,789.05 with Stanbic Bank, MTN and ETI and Shareholdings in Benin Electricity Distribution company, Art Trade limited, Pacific Creations Limited, Goldrunner Limited, Standard Communications Limited, I.C.E.L. Resources Investment Limited, Corporate Precision Limited, Grandview Limited, Vigeo International Insulation Company Ltd, International Insulation Company Ltd, Global Utilities management Ltd and Golden Heights Limited.

In an affidavit sworn to by a banker at Ecobank Adeniran Ojora and filed before the court by a Law Firm of Simmons Cooper Partners, it was alleged that Ecobank granted several loan facilities to the defendants.