A Lagos State High Court sitting in Tapa, Lagos Island, has ordered the freezing of all bank accounts linked to World Oil Industries Limited and one of its directors, Kunle Abiodun Enitilo, over an alleged unpaid diesel supply debt of ₦407,125,000 owed to Q&M Oil & Gas Limited.
The interim order was granted by Justice (Dr) Rosul O. Olukolu following an ex parte application filed by the claimant in Suit No: LD/851CM/2026.
In a ruling delivered at the Commercial Courthouse in Tapa, the court issued a Mareva injunction restraining several financial institutions from allowing withdrawals, transfers, or any transactions involving funds connected to the defendants up to the value of the claimant’s total claim.
The order affects accounts allegedly linked to the defendants across multiple banks, including Guaranty Trust Bank Limited, Access Bank Plc, Ecobank Nigeria Plc, Fidelity Bank Plc, First Bank of Nigeria Limited, United Bank for Africa Plc, Zenith Bank Plc, as well as other financial service providers.
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Justice Olukolu further directed the affected banks to immediately halt all transactions tied to the defendants, their agents, subsidiaries, or any related entities associated with the Bank Verification Number (BVN) of the second defendant.
The court also ordered the banks to disclose, within seven days, the balances in any accounts maintained by the defendants as of the date of the order.
The dispute stems from a diesel supply agreement dated February 3, 2025, under which Q&M Oil & Gas Limited supplied petroleum products to World Oil Industries Limited to meet customer demand.
According to the claimant, the total value of the diesel supplied under the agreement was approximately ₦1.85 billion. However, despite fulfilling its obligations, the company alleged that the defendants failed to settle all invoices, leaving an outstanding balance of ₦407,125,000.
In an affidavit deposed to by Tossa Godwin Oluwasegun, the claimant accused the defendants of being evasive and unwilling to demonstrate any clear commitment to settling the debt.
The claimant further alleged that there were indications the defendants were dissipating assets in a manner that could frustrate the enforcement of any eventual judgment.
It was also claimed that some petrol stations and other assets linked to the defendants had been leased or transferred to third parties, raising concerns that funds could be moved beyond the jurisdiction of the court.
Counsel to the claimant urged the court to preserve the assets pending the determination of the substantive suit, an argument the court found convincing.
Justice Olukolu held that the application was necessary to protect the subject matter of the dispute and consequently granted the interim reliefs sought.
In addition to freezing the accounts, the court restrained the defendants from selling, transferring, or otherwise dealing with any traceable assets pending the outcome of the case.
The court also granted leave for substituted service of court processes by pasting the documents at the last known address of the second defendant in Ikota Estate, Lekki, Lagos.
The matter has been adjourned to April 2, 2026, for a report of service and further proceedings.