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 firms, coping with monetary property value as much as $100 million and effecting modifications to their company data.
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 industrial gear 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 data and reject specified modifications to their directorship, shareholding and signatory authority.
The orders had been made pending the listening to and dedication of the candidates’ movement on discover for interlocutory injunction.
The go well with, 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 by means of 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 by means of proxies or shell entities with Zenith Bank, Fidelity Bank, Access Bank or another industrial 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, nevertheless, set up that the sum has been recovered, confiscated or recognized in any explicit account. It is an interim restriction supposed 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 industrial gear 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 firms and refuse to register modifications to their directorship, shareholding or signatory authority submitted by R28 Limited or Adebutu, significantly modifications referring to 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 appliance and listening to submissions from the candidates’ counsel, comprising Okay. Braithwaite, Wogu Christian, Olaoluwakitan Braithwaite and Hilda Nwankwo.
In their utility, the claimants sought to forestall interference with the businesses’ operations and property, protect the monetary property coated by the Mareva order and forestall modifications to their company data pending the dedication of their movement for interlocutory injunction.
The newest order is one in all a collection of authorized disputes reportedly involving Immanuel, the founder and managing director of Chappal Energies, and Adebutu over a industrial 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.
