MTN Nigeria Communications Plc, has been dragged before a Federal High Court, Lagos, over alleged indebtedness of N180, 946, 560 billion.
The telecommunication giant was dragged before the court presided over by Justice Akintayo Aluko, by Access Bank Plc and three other firms, which are in Receivership, in the suit marked FHC/L/CS/1004/2025
The three firms are: Multi-links Telecommunications Limited; Capcom Telecoms Limited and Cyancom Limited.
Access Bank Plc and the three firms in receivership through their lawyer, Mr. Kunle Ogunba (SAN), had on Thursday, approached the court for some restraining orders against MTN over the alleged debt.
The judge however, declined to grant Access Bank’s request, but ordered that MTN should be put on notice, while adjourned the matter to June 23, for hearing.
In the debt recovery suit, Access Bank and the firms in receivership have asked the court for the followings: “An order of interim injunction restraining the Defendant jointly or severally from withdrawing, tampering with or otherwise dissipating the funds in its entire accounts in any financial institution within Nigeria in the sum of N180, 946, 560,000.00, billion (One hundred and eighty billion, nine hundred and forty six million, five hundred and sixty thousand naira only) being the outstanding mammoth’ indebtedness of the Defendant to the 2nd Plaintiff, pending the hearing , and final determination of the Motion on Notice as filed in this suit herein.
“An order of interim injunction restraining the Defendant from dealing with, dissipating, transferring, selling or however tampering with any of their assets (be it movable or immovable), shares, funds in any financial institution (howsoever described) pending the hearing and final determination of the Motion on Notice filed in this suit herein.
“An order of interim injunction restraining the all financial Institutions (including but not limited to Banks) within the territorial jurisdiction of this Honourable Court from dealing with and/or operating the Defendant’s account wherever found within the jurisdiction of this Honourable Court pending the hearing and final determination of the Motion on Notice filed in this suit herein
“A consequential order of this Honourable Court directing all banks and financial institutions within the territorial jurisdiction of this Honourable Court to depose on Oath the sums standing to the credit of the Defendant in their custody within 7 (seven) days from being served with a copy of the Order of Court.
“And for such further or other order(s) as this Honourable Court may deem fit to make in the circumstance.”
In urging the court to grant the all reliefs sought, the plaintiffs’ lawyer informed the court that the reliefs sought are pursuant to Order 12 (1) and (2) and order 26 rule 6 Federal High Court, Civil Procedure Rules.
Adding that the motion exparte was supported with affidavit of 41 paragraphs with documentary exhibits marked MTN 1-17, and a written address dated May 22, 2025.
However, in refusing Access Bank and other plaintiffs’ request, Justice Aluko held that; “Upon critical examination and consideration of the materials placed before the Court in terms of the affidavit and documentary exhibits laid before the Court, the Plaintiffs have undoubtedly made a very strong case which is impossible to gloss over or overlook.
“However, going by the peculiar nature of the case and the effect of the orders being sought in the application if granted and particularly in view of the disclosure in the Defendant’s correspondence attached as MTN 17 by the Plaintiffs,
“I am compelled by the overwhelming interest of justice to direct that the Defendant should be heard before making any order in this case.
“Following the strong case already made by the Plaintiffs as revealed in their affidavit and documentary exhibits before the Court, it is hereby ordered as follows: “That the Defendant/Respondent shall appear in Court at the next date to show cause why the orders sought in the application should not be granted.
“That the time within which the Defendant is to file its counter affidavit is abridged from 7 days to 5 days in the interest of an expeditious consideration.
“That a copy of this order, the application including the affidavit and the attachments shall be served on the Defendant.
“That this case is adjourned to 23/6/25 for the Defendant to show cause proceedings.”
