Osun Accounts Frozen: Court Orders Hold on State Funds Amidst $13.9M Arbitration.
A Federal High Court has ordered a 'Post No Debit' restriction on Osun State Government bank accounts. This significant ruling stems from a $13.9 million arbitration award favoring Gamji Nigeria Company Limited over disputed water infrastructure contracts. The move freezes state assets, highlighting ongoing challenges in public contract disputes and governance.
The Federal High Court in Lagos has ordered commercial banks to place a ‘Post No Debit’ restriction on accounts operated by the Osun State Government over a $13.9m arbitration award in favour of Gamji Nigeria Company Limited. Justice D.E. Osiagor issued the interim order followin
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