A Federal High Court sitting in Ikoyi, Lagos, has restrained the directors of Retail Supermarkets (ShopRite) from selling the company’s shares or assets pending the satisfaction of a judgment debt. The court also directed the directors to disclose all movable and immovable assets to the judgment creditor.
The order was made by Justice Ambrose Lewis-Allagoa following an ex parte application filed on November 21, 2025, in furtherance of a consent judgment entered on July 22, 2025.
The application was moved by counsel to the judgment creditor, Tobenna Nnamani, FCIArb, who urged the court to issue garnishee orders nisi attaching all funds standing to the credit of the judgment debtor across multiple financial institutions.
Relying on the court’s order, counsel to the judgment creditor has also demanded that Mr. Jide Ogundare and other directors disclose details of all ShopRite’s assets, including the distribution centre at Ajao, Lagos, as well as all relevant trademarks.
The matter was adjourned to May 7, 2026, for continuation of proceedings.