Court bars Shoprite directors from selling assets over unsettled judgment debt

A federal high court sitting in Ikoyi, Lagos, has barred the directors of Shoprite from disposing of the company’s shares or assets pending the settlement of an outstanding judgment debt.

The court further directed the company’s directors to fully disclose all movable and immovable assets owned by the firm to the judgment creditor.

The order was issued by Justice Ambrose Lewis-Allagoa after hearing an ex parte application filed on November 21, 2025. The application stems from a consent judgment earlier entered on July 22, 2025.

Counsel to the judgment creditor, Tobenna Nnamani, urged the court to grant garnishee orders nisi to enable the attachment of funds belonging to the company across several financial institutions.

Following the ruling, the creditor has formally requested detailed information on Shoprite’s assets from its directors, including Jide Ogundare and others. The request covers key holdings such as the company’s distribution centre located in Ajao, Lagos, as well as its trademarks.