Federal High Court Orders MTN Nigeria to Appear Over N181 Billion Debt Freeze Application

A Federal High Court in Lagos has ordered MTN Nigeria Communications Plc to appear in court and show cause why its accounts should not be frozen over an alleged debt of approximately N180.95 billion.

Justice Akintayo Aluko made the ruling while considering an ex-parte application filed by Access Bank Plc alongside three companies under receivership—Multi-links Telecommunications Limited, Capcom Telecoms Limited, and Cyancom Limited.

The plaintiffs, represented by Senior Advocate Kunle Ogunba (SAN), sought interim reliefs including an order preventing MTN from withdrawing or tampering with funds across its Nigerian bank accounts up to the disputed amount. They also requested a freeze on MTN’s assets, including shares, funds, and properties, pending the hearing of the substantive motion.

Additionally, the plaintiffs asked the court to compel all Nigerian financial institutions to disclose the balances in MTN’s accounts under oath within seven days of the court order.

While acknowledging the strength of the plaintiffs’ case, Justice Aluko declined to grant a blanket freeze immediately. Instead, he ordered MTN to appear before the court on June 23, 2025, to defend itself and explain why the freeze should not be imposed.

To expedite the process, the judge reduced MTN’s time to file a response from seven to five days.

Justice Aluko emphasized the need for MTN to be heard given the case’s complexity and potential ramifications, referencing documents presented by the plaintiffs, including correspondence marked “MTN 17.”

“The plaintiffs have made a compelling case, but due to the peculiar nature of the case and its potential impact, the defendant must be given an opportunity to respond before any orders are granted,” the judge said.

The court adjourned the matter, setting June 23 for MTN’s appearance to show cause.