Court summons NATCOM boss, Adegbenro over N2.1bn judgement debt

Justice Akinkunmi Idowu of the Lagos High Court, Ikeja, has summoned the acting Director-General of the National Commission against the Proliferation of Arms, Light Weapons and Pipeline Vandalism (NATCOM), Adejare Adegbenro, over an alleged judgment debt.

Adegbenro is listed as the 3rd judgment debtor in a N2.1 billion debt owed to Fundquest Financial Services Limited.

The judge issued the summons on November 8 following an application by Fundquest Financial Services through its lawyer, Adetunji Adedoyin-Adeniyi.

The summons was made available to journalists on Saturday.

Justice Idowu adjourned the matter till December 4.

Justice Toyin Oyekan-Abdullahi had on July 5, 2021, restrained all commercial banks in the country from releasing all monies/assets due to two firms and two persons including Adegbenro from all accounts up to N2,016228,442.95 pending the determination of the motion on notice.

The companies are – Balmoral International Limited and DDSS International Company Limited.

“The Judgment Creditor obtained a judgment against the above-named 3rd Judgment Debtor in this court on the 5th day of July 2021 for:

“The sum of N1, 033,800,276.46 against the 1st and 2nd Judgment Debtors being the amount outstanding and unpaid, as of 30th November 2020 by the 1st & 3rd judgment debtor in respect of the Institutional Note Issuance/Commercial Paper Facilities in the sum of N405, 000,000, availed to the 1st judgment Debtor vide the Judgment Creditor’s offer letter of 27 April 2017 and guaranteed by the 3rd judgment debtor,” the summons read.

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