Court refuses to unfreeze Shell’s 20 bank accounts

A Federal High Court sitting in Lagos, yesterday, refused to vacate the interim Mareva injunction it made directing 20 commercial banks to block Shell Petroleum Development Company of Nigeria, SPDC,) and its subsidiaries’ bank accounts.

Trial judge, Justice Oluremi Oguntoyinbo, in her ruling, also summoned three of the banks’ secretaries and chief financial officers for allegedly disobeying the order made on January 25, 2021.

The court ordered the alleged contemnors to appear before it on the next adjourned date of March 29, 2021.

Justice Oguntoyinbo warned that their failure to appear would result in a warrant of arrest being issued against them.

The judge made the order in a ruling on three applications in a suit by Aiteo Eastern E&P Company Ltd against SPDC and four others.