Court Order Restrains Mr Jide Ogundare and other Directors of Retail Supermarkets (ShopRite)from selling shares or assets of the Company Over Judgment Debt

Court Order Restrains Mr Jide Ogundare and other Directors of Retail Supermarkets (ShopRite)from selling shares or assets of the Company Over Judgment Debt

A Federal High Court sitting in Ikoyi, Lagos, has restrained the Directors of Retail Supermarkets (ShopRite) from selling the shares or assets of the Company until the satisfaction of the judgment debt. The Court further directed the Directors to disclose all movable and immovable assets to the Judgment Creditor.

The order was made by Justice Ambrose Lewis-Allagoa following an ex-parte application filed on November 21, 2025, in furtherance of a consent judgment entered on July 22, 2025.

The application was moved by counsel to the judgment creditor, Tobenna Nnamani, FCIArb, who urged the court to issue garnishee orders nisi attaching all funds standing to the credit of the judgment debtor across multiple financial institutions. Relying on the Order of the Court, Counsel to the Judgment Creditor has also demanded from Mr Jide Ogundare and other directors for the details of all the assets of ShopRite including the Distribution Centre at Ajao Lagos, and all relevant trademarks.

The matter was adjourned to May 7, 2026, for continuation of proceedings.