Court Restrains ShopRite Directors From Selling Assets

A Federal High Court sitting in Ikoyi, Lagos, has restrained the directors of Retail Supermarkets Nigeria Limited (ShopRite) from selling the company’s shares or assets pending the satisfaction of a judgment debt.

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Naija News reports that the presiding judge, Ambrose Lewis-Allagoa, also directed the directors, including Jide Ogundare, to disclose all movable and immovable assets belonging to the company.

The order followed an ex-parte application filed on November 21, 2025, in furtherance of a consent judgment delivered on July 22, 2025.

Counsel to the judgment creditor, Tobenna Nnamani, moved the application, urging the court to grant garnishee orders nisi to attach funds belonging to the judgment debtor across various banks.

The creditor has also demanded details of key assets, including the company’s distribution centre in Ajao, Lagos, as well as its trademarks.

The court adjourned the matter to May 7, 2026, for continuation of proceedings as efforts continue to enforce the judgment debt.