Justice Nicholas Oweibo of the Federal High Court sitting in Lagos has restrained an investment firm, Core Capital Ltd and 26 other affiliated firms from dissipating the N51, 079,318.37 balance left of the N81, 855,735.96 invested in the firm by an investor, Olusegun Tawoju.
Justice Oweibo made the order after listening to an ex-parte application filed and argued by Tawoju’s counsel, Adekunle Ogunba (SAN).
Ogunba had, in the ex-parte application, urged the court to, among others, put the case on the undefended list because all facts conversed in a 33-paragraph affidavits were undisputed.
According to an affidavit attached to the suit, the Plaintiff/Applicant on 17 March 2021, entered into a fixed deposit investment with the 1st Defendant/Respondent in the sum of N81,855,735.96.
“The investment was for 117 days, commencing on 17th March 2021 and terminating on 12th July 2021, with an interest rate of 15 per cent per annum, yielding a total interest of N85,516,032.93, being principal and interest on the sum invested.
“The said investment matured/automatically terminated on 12th July 2021, and the Defendants/Respondents failed to pay the entire maturity sum in respect of the same.
Justice Oweibo has adjourned further hearing of the matter till October 7.