Court Blocks ShopRite Directors From Selling Off Assets

According to Ireporter Online, the Federal High Court sitting in Ikoyi, Lagos, has issued an order restraining the directors of Retail Supermarkets Nigeria Limited, operators of ShopRite, from selling any shares or disposing of assets belonging to the company pending the full settlement of an outstanding judgment debt.

The presiding judge, Justice Ambrose Lewis-Allagoa, also directed the company’s directors, including Jide Ogundare, to provide a comprehensive disclosure of both movable and immovable assets owned by the firm.

The ruling followed an ex-parte application filed on November 21, 2025, in continuation of the enforcement of a consent judgment delivered on July 22, 2025. Counsel to the judgment creditor, Tobenna Nnamani, moved the application before the court, seeking garnishee orders nisi to attach funds belonging to the judgment debtor across several financial institutions.

The judgment creditor further requested detailed information on the company’s key assets, including its distribution centre located in Ajao, Lagos, as well as its registered trademarks.

The court has adjourned the matter to May 7, 2026, for further proceedings as enforcement actions continue in relation to the judgment debt.