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Court restrains banks from releasing funds linked to Chinmark Group
The Lagos State High Court sitting in Osborne, Ikoyi has granted an order of Mareva injunction restraining all commercial banks in the country from releasing or dealing in any manner with any money or assets due to Chinmark Group Limited and three others.
The court granted the order up to the amount of N246,610,000 (two hundred and forty-six million, six hundred and ten thousand naira) being the outstanding investments and return on investments accruing to the applicants from the defendants as of December 30, 2021.
The claimants/applicants in the suit are Stephanie Ohuche, Okonkwo Blessing, Oliver Njoku and Livinus Chinamere who are suing on behalf of themselves and 76 other investors of Chinmark Group Ltd.
They had dragged the defendants, Chinmark Group Ltd, FinAfrica Invest Ltd (the company peddled as the investment arm of Chinmark Group), the chief executive officer of both companies, Ijiomah Marksman Chinedu and his wife, Marksman Uhunoma Trinity before the Lagos High Court sitting in Osborne, Ikoyi over allegations of a failed Ponzi scheme.
The claimants accused Ijiomah and the other three defendants of using the investment scheme to dupe thousands of Nigerians of their hard-earned money to the tune of over N20bn without any intention to restitute or pay the same back.
Justice Kudirat Jose listened to the exparte application of the counsel for the claimants, Adetunji Adedoyin-Adeniyi, and restrained the affected banks from releasing or dealing with any monies and/or assets due to the defendants from any account maintained by all the affected banks.
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The affected banks are Guaranty Trust Bank Limited, Access Bank Plc, Citi Bank Nigeria Limited, Ecobank Nigeria Plc, Fidelity Bank Plc, First Bank Of Nigeria Limited, First City Monument Bank Plc, Globus Bank, Heritage Bank Limited, Jaiz Bank, Keystone Bank Limited, Polaris Bank Limited, Providus Bank, Stanbic Ibtc Bank Nigeria Limited, Standard Chartered Bank, Sterling Bank Plc, Union Bank Of Nigeria Plc, United Bank For Africa Plc, Unity Bank Plc, Wema Bank Plc And Zenith Bank Plc.
The court also ordered the banks who are holding the funds or assets of all the defendants to file an affidavit before the court to show the balance of the 1st, 2nd, 3rd, and 4th defendants’ accounts.
For Banks who are not holding any of the defendants’ accounts, the court held that it shall suffice if they send in a letter to the court and the claimant’s counsel saying that they are not holding any such funds or assets.
The court also granted leave to the claimants to serve their Originating Summons and other relevant documents with accompanying exhibits, the Motion on Notice for Mareva injunction; and all other processes that may be issued in the suit on the 3rd and 4th Defendants by way of substituted service; which entails pasting same on the 3rd and 4th Defendants’ last known address in the Ogba area of Ikeja Lagos.
Justice Jose however refused to grant an order restraining the defendants from selling, transferring, assigning and or dealing with any property that can be traced and located by the claimants during the pendency of the suit.
The court held that no particular property was mentioned by the claimants.
Court restrains banks from releasing funds linked to Chinmark Group
President Bola Tinubu, on Tuesday arrived in Katsina to receive the remains of the former President Muhammadu Buhari, who passed away in London on Sunday at the age of 82.
Just hours before the burial of former President Muhammadu Buhari, heartfelt tributes have continued to pour in from beneficiaries of his many charitable deeds, with many describing him as a man who never turned his back on the needy.
Speaking to the News Agency of Nigeria (NAN) on Tuesday, Aminu Daura, a respected community elder, recalled how Buhari consistently provided foodstuffs during Ramadan for families, friends, widows, and orphans in his hometown.
“He never made noise about it, but many homes had food on their tables during fasting period because of him,” Daura said.
Abdullahi Sani, a physically-challenged man who received a tricycle from the Buhari Foundation in 2021, was overcome with emotion while speaking to NAN.
“I can move around and feed my family today because of Baba Buhari. I pray to Allah to reward him for giving hope to people like me,” he said, in tears.
Hajiya Fatima Yahaya, another resident, remembered Buhari’s acts of kindness during festive seasons.
“Even after he left office, his aides ensured that the usual support still reached us every year. He always remember his people,” she said, referring to his distribution of Sallah rams and food items to indigent families during Eid celebrations.
Other residents of Daura also shared memories of how the late former president quietly paid school fees and medical bills for struggling families, actions rarely publicized.
“Some of us benefited from his silent interventions. He was a true father and a great figure in the society,” said Ali Saidu.
On Monday night, Imams across various mosques in Daura held special Qur’anic recitations, praying for the forgiveness of Buhari’s sins and his eternal peace.
The Chief Imam of Daura Central Mosque, Sheikh Musa Kofar Barau, described Buhari as a humble leader whose legacy of service and compassion would remain alive in the hearts of the people.
Buhari is scheduled to be buried later on Tuesday in his hometown of Daura, Katsina State, in line with Islamic rites. The community is bracing to welcome thousands of mourners from across Nigeria and beyond.
His Majesty King Mohammed VI of Morocco has extended heartfelt condolences to President Bola Tinubu, the family of the late former President Muhammadu Buhari, and the entire Nigerian people following Buhari’s death.
In a message of sympathy, the Moroccan monarch described the passing of the former Nigerian leader as a “sad occurrence,” expressing deep sorrow over the loss.
King Mohammed VI hailed Buhari as “an illustrious leader who worked untiringly to serve his country’s best interests and lead his people toward further progress and prosperity.”
He added: “Our thoughts and prayers are with you and the bereaved. I share your grief and want you to know how much I appreciated the working sessions I had with the deceased.”
Reflecting on their bilateral engagements, the king noted that his collaboration with Buhari led to the launch of promising development projects, “ushering a new era grounded in friendship and close cooperation between our two sister nations.”
Tinubu arrives Katsina to receive Buhari’s body for burial
“He Never Turned His Back on the Needy” — Tributes Pour In Ahead of Buhari’s Burial
King Mohammed VI Mourns Buhari, Praises Legacy of Nigeria’s Former Leader
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