A Lagos Federal High Court has restrained Stella Oduah and Sea Petroleum and Gas Company Ltd., from making any withdrawal from its account and those of three other companies domiciled with 21 banks.
The other companies include Sea Shipping Agency Ltd, Rotary Engineering Services Ltd, and Tour Afrique Company Ltd.
The court issued the orders over an alleged indebtedness of the defendants in the sum of about $16.4m and N100.5m.
Also, the court issued an order directing the said commercial banks harbouring the assets of Stella Oduah and the four companies to sequestrate their indebtedness as at November 2016.
In the affidavit, Akinsanya averred that on Oct. 8, 2012, the bank granted a lease /Cabotage Vessel Finance Facility (CVFF) to Sea Petroleum and Gas Company in the said sums to finance one unit 5,000 MT tanker vessel.
The Presiding Judge, Justice Abdulaziz Anka consequently ordered that court processes be advertised in National Newspapers.
Meanwhile, Stella Oduah and her companies urged the court to discharge the order made against them.
They also filed a preliminary objection to the suit and urged the court to strike out the suit for lack of jurisdiction.
However, Anka fixed March 20 to decide whether or not to vacate the order.
EDITED FROM THE PUNCH
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