Swift Networks Limited has said that it will appeal a judgment by the Federal High Court in Lagos, that granted Union Bank Plc an interim order of Mareva Injunction restraining them and their agents from dealing or accessing monies up to the tune of N7 billion in 25 banks pending the determination of an alleged debt recovery suit.
In a statement made available to Nairametrics, the network provider said the allegations that formed the basis of this Exparte injunction are false and baseless.
The statement signed order by the Board of Directors of SWIFT Networks Limited said:
- “The Board of Directors and shareholders of Swift Networks Limited have just been made aware of a Federal High court Ex parte injunction granted to Union Bank.
- We wish to state that the allegations that formed the basis of this Exparte injunction are false and baseless, and as such, we shall be rigorously opposing the Ex parte order in court while also trying to reach an amicable resolution with Union Bank.
- We were not informed by Union Bank, nor did the Court hear our side before this injunction was granted.
- Be that as it may, we wish to reassure our esteemed customers and stakeholders that our services continue to run 24/7 and we can still be reached through any of our channels listed on our website www.swiftng.com, our Head Office”.
Justice Daniel Osiagor made the order on July 19, 2023, after hearing counsel for the Plaintiff/Applicant, Union Bank, Mr. Temilolu Adamolekun move the motion exparte to protect the res in the suit.
Mr Adamolekun had made the exparte application under Section 13 of the Federal High Court Act, Order 26 Rule 1, 2 (1), 3, Order 26 Rules 8 (1), 9 And 10, Order 28 Rules 1 (2) AND 2(1), Order 40 Rules 1(3) & (4) of the Federal High Court (Civil Procedure) Rules 2019 and under the inherent jurisdiction of the court.
He listed Swift Networks as the Defendant while the banks were listed as the 2nd to 25th Respondents.
Besides the Plaintiff Union Bank, the other banks are Access Bank Plc, Citibank Nigeria Limited, Ecobank Nigeria Limited, Fidelity Bank Plc, First Bank Of Nigeria Plc, First City Monument Bank Plc, Guaranty Trust Bank Plc, Globus Bank Limited, Heritage Bank Plc, Jaiz Bank Limited, Keystone Bank Limited, Lotus Bank Limited, Parallex, Polaris Bank Limited, Providus Bank Limited, Stanbic Ibtc Bank Nigeria Limited, Standard Chartered Bank Limited, Sterling Bank Plc, Suntrust Bank Nigeria Limited, Titan Trust Bank, United Bank of Nigeria, Unity Bank Plc, Wema Bank Plc, and Zenith Bank Plc.
Specifically, Justice Osiagor, after reading the Affidavit in Support, the Exhibits attached, and the Written Address, ordered as follows:
- “That an interim order of Mareva Injunction is granted restraining the Defendant (Swift Networks), its agents, privies, and/or assigns or otherwise howsoever from dealing with any of the monies standing to its credit in all of its accounts, records or howsoever held with the 2nd to 25th Respondents and also its monies standing to its credit in the custody of the Plaintiff up to the tune of N7,037,410,548.23 (billion) or its equivalent in any foreign currency.
- “That an Interim order of Mareva Injunction is granted restraining the 2nd to 25th Respondents and their agents or anyone whatsoever from releasing to the Defendant or any of its Affiliate, any monies, funds or any other instrument belonging to the Defendant, to the tune of N7,037,410,548.23 or its equivalent in any foreign currency that may be or found in the custody or possession of the 2nd to 25th Respondents.”
- The court also granted an Interim Injunction restraining Swift Networks by itself or through anyone from tampering with or dealing in any manner with any of its assets/properties in whatsoever form within the jurisdiction of the court, “particularly but not limited to all the assets/properties within the premises of the Defendants at 31 Saka Tinubu Street, Victoria Island, Lagos State.”
