Wale Igbintade
The Federal High Court in Lagos has issued three interim orders restraining R28 Limited and its Founder, Adebisi Adebutu, from taking on the operational property of two corporations, coping with monetary property price as much as $100 million and effecting adjustments to their company information.
Justice Ambrose Lewis-Allagoa, in an order issued on October 22, 2026, restrained the 2 respondents from seizing or interfering with the operational premises, administration, bodily property, and business tools of Chappal Energies Offshore Limited and Project Odinmin Investments Limited.
The Judge additionally granted a Mareva order proscribing dealings with monetary property as much as $100 million or its equal in different currencies, whereas directing the Corporate Affairs Commission (CAC) to protect the businesses’ company information and reject specified adjustments to their directorship, shareholding and signatory authority.
The orders have been made pending the listening to and dedication of the candidates’ movement on discover for interlocutory injunction.
The swimsuit, marked FHC/LAG/FR/500/2026, was filed on October 14, 2026, by Ufoma Joseph Immanuel, Chappal Energies Offshore Limited and Project Odinmin Investments Limited.
The respondents are R28 Limited, Adebutu, Michael Humphries, the CAC, Zenith Bank Plc, Fidelity Bank Plc, Access Bank Plc, and Rand Merchant Bank.
Under the Mareva order, R28 Limited and Adebutu, whether or not appearing personally or via their brokers, privies, representatives, nominees or different individuals appearing on their directions, are restrained from transferring, withdrawing, eradicating, dissipating, assigning, encumbering or in any other case coping with funds and different monetary property coated by the order.
The restriction applies to monies, deposits and monetary property standing to the credit score of accounts maintained in their private or company names, together with accounts operated via proxies or shell entities with Zenith Bank, Fidelity Bank, Access Bank or another business financial institution, monetary establishment or digital platform in Nigeria.
The monetary restraint is capped at $100 million or its equal in different currencies.
The order doesn’t, nonetheless, set up that the sum has been recovered, confiscated or recognized in any explicit account. It is an interim restriction meant to protect property pending additional proceedings.
On the businesses’ operations, Justice Lewis-Allagoa restrained the primary and second respondents from getting into upon, seizing, taking on or interfering with the operational premises, administration, bodily property and business tools of Chappal Energies Offshore Limited and Project Odinmin Investments Limited in Nigeria.
The decide additionally directed the CAC, the fourth respondent, to keep up the established order in the company registers of the 2 corporations and refuse to register adjustments to their directorship, shareholding or signatory authority submitted by R28 Limited or Adebutu, significantly adjustments regarding Michael Humphries, the third respondent.
The order adopted an ex parte utility supported by an affidavit sworn to by Immanuel.
The court docket made the orders after contemplating the applying and listening to submissions from the candidates’ counsel, comprising Ok. Braithwaite, Wogu Christian, Olaoluwakitan Braithwaite and Hilda Nwankwo.
In their utility, the claimants sought to stop interference with the businesses’ operations and property, protect the monetary property coated by the Mareva order and forestall adjustments to their company information pending the dedication of their movement for interlocutory injunction.
The newest order is certainly one of a sequence of authorized disputes reportedly involving Immanuel, the founder and managing director of Chappal Energies, and Adebutu over a business disagreement centred on management and the allotment of shares in the corporate, which Immanuel based in 2022.
Justice Lewis-Allagoa adjourned the matter until December 4, 2026, for additional proceedings.
