Court order blocks ShopRite executives from offloading stock, properties over unpaid judgment debt

A Federal High Court in Ikoyi, Lagos, has issued a restraining order against the Directors of Retail Supermarkets, also known as ShopRite, preventing them from disposing of the company's shares or assets until a judgment debt is fully settled.

n

The court's directive also requires the Directors to provide a comprehensive disclosure of all movable and immovable assets to the Judgment Creditor, as part of the order made by Justice Ambrose Lewis-Allagoa.

n

This development stems from an ex parte application filed on November 21, 2025, which was a follow-up to a consent judgment entered on July 22, 2025.

n

Counsel to the judgment creditor, Tobenna Nnamani, moved the application, seeking garnishee orders nisi to attach all funds belonging to the judgment debtor across multiple financial institutions.

n

Acting on the court's order, the counsel to the Judgment Creditor has requested that Mr Jide Ogundare and other directors provide detailed information about ShopRite's assets, including the Distribution Centre at Ajao, Lagos, and all relevant trademarks.

n

The court proceedings have been adjourned to May 7, 2026, to allow for the continuation of the case.