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.
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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.
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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.
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The case returns on April 2, 2026, for further proceedings.
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