Nigeria News
7bn debt: Court stops sale of late Arisekola’s assets

A Federal High Court sitting in Lagos has directed parties in a litigation to maintain status-quo and not sell assets of late politician, Alhaji Abdulazeez Arisekola- Alao.

The suit was filed by Guaranty Trust Bank, GTB, against the Estate of the late Arisekola and two of his companies (Lister Oil Tank Farm and Lister Flour Mills Nigeria) over alleged indebtedness of about N7 billion.

According to the order by the presiding judge, Justice Chukwujekwu J. Aneke, the estate of the late politician and the companies are not to dispose of their assets, including the personal assets of the deceased, especially a Tank Farm owned by Lister Oil Limited situate at No. 21 Michael Ibru Boulevard (formerly Creek Road) Apapa Lagos, until the determination of pending applications to restrain their disposal.

GTB is claiming the sum of about 7 billion naira, plus accrued interest being outstanding loans granted to late Arisekola, through his companies, Lister Oil Limited and Lister Flour Mills Limited.

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