Osun seeks to overturn order freezing state bank accounts

Summary

The Osun State Government has asked a Federal High Court in Lagos to set aside an order restricting its bank accounts over a $13.9 million arbitration award in favour of Gamji Nigeria Company Limited.

Highlights

• The state said it had already filed a case at the Lagos State High Court to challenge the arbitral award before Gamji sought the federal court order.
• Commissioner for Information Oluomo Kolapo Alimi said the government filed its application on 2 October.
• The restriction followed an interim order directing commercial banks to place a “Post No Debit” hold on accounts operated by the state government.
• The dispute is linked to water infrastructure contracts awarded to Gamji in 2017 during the administration of former Governor Adegboyega Oyetola.