A Lagos High Court has ordered the freezing of all bank accounts belonging to World Oil Industries Limited and its director, Kunle Abiodun Enitilo over an alleged unpaid debt of ₦407,125,000 owed to Q&M Oil & Gas Limited.
The ruling was delivered by Justice (Dr.) Rosul O. Olukolu at the Commercial Courthouse in Tapa, Lagos Island, following an ex-parte motion filed by Q&M Oil & Gas in Suit No: LD/851CM/2026.
READ ALSO: LIRS extends deadline for filing individual annual returns.
What the court ordered:
Justice Olukolu issued a Mareva injunction, a powerful legal tool that locks down assets, restraining major Nigerian banks including GTBank, Access Bank, Zenith Bank, UBA, First Bank, Ecobank, Fidelity Bank, and others from processing any transactions on the defendants’ accounts.
The banks have 7 days to disclose all account balances tied to the defendants.
READ ALSO: U.S. Charges Nigerian-Born Engineer, Banjo Popoola, Over $4.7m Fr@ud Linked To Lavish Hawaii Wedding For Second Wife
The court also barred World Oil Industries and its director from selling, transferring, or disposing of any traceable assets while the case is ongoing.
Q&M alleged the defendants had been evasive and had started moving assets, including leasing petrol stations to third parties, raising fears they could frustrate any court judgment.
READ ALSO: NDLEA Intercepts India Bound 237 Wraps of C@caine Hidden in ‘Okporoko’
The case returns on April 2, 2026, for further proceedings.
About The Author
More Stories
Yahoo Boys Ste@l The ₦7.2 Million Meant for a Judge’s Child’s School Fees From Her Account
3 Brothers Face M¥rder Charge for Be@ting man to de@th simply for dating Their Mom
Driver Sentenced to De@th by Hanging for the M¥rder of his 80-yr-Old Employer And His Wife in Abuja