Wale Igbintade
The Federal High Court in Lagos has issued three interim orders restraining R28 Limited and its Founder, Adebisi Adebutu, from taking up the operational belongings of two firms, coping with monetary belongings value as much as $100 million and effecting adjustments 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 belongings, and business gear of Chappal Energies Offshore Limited and Project Odinmin Investments Limited.
The Judge additionally granted a Mareva order proscribing dealings with monetary belongings 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 adjustments to their directorship, shareholding and signatory authority.
The orders had been made pending the listening to and willpower 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 performing personally or by their brokers, privies, representatives, nominees or different individuals performing on their directions, are restrained from transferring, withdrawing, eradicating, dissipating, assigning, encumbering or in any other case coping with funds and different monetary belongings lined by the order.
The restriction applies to monies, deposits and monetary belongings standing to the credit score of accounts maintained in their private or company names, together with accounts operated by proxies or shell entities with Zenith Bank, Fidelity Bank, Access Bank or every other business 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, nonetheless, set up that the sum has been recovered, confiscated or recognized in any specific account. It is an interim restriction meant to protect belongings pending additional proceedings.
On the businesses’ operations, Justice Lewis-Allagoa restrained the primary and second respondents from coming into upon, seizing, taking up or interfering with the operational premises, administration, bodily belongings and business gear of Chappal Energies Offshore Limited and Project Odinmin Investments Limited in Nigeria.
The choose additionally directed the CAC, the fourth respondent, to take care of the established order in the company registers of the 2 firms and refuse to register adjustments to their directorship, shareholding or signatory authority submitted by R28 Limited or Adebutu, notably adjustments referring to Michael Humphries, the third respondent.
The order adopted an ex parte software 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 Ok. Braithwaite, Wogu Christian, Olaoluwakitan Braithwaite and Hilda Nwankwo.
In their software, the claimants sought to stop interference with the businesses’ operations and belongings, protect the monetary belongings lined by the Mareva order and forestall adjustments to their company data pending the willpower of their movement for interlocutory injunction.
The newest order is certainly one of a collection of authorized disputes reportedly involving Immanuel, the founder and managing director of Chappal Energies, and Adebutu over a business 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.
