Court Freezes Petrocam Accounts Over N9bn Debt to Zenith

The Federal High Court in Lagos, presided over by Justice Chukwujekwu Aneke, has granted an interim order to freeze the bank accounts linked to Petrocam Trade Nigeria Limited, which allegedly owes Zenith Bank N9.05 billion. This order, resulting from suit no.

FHC/L/CS/393/2026, was issued following an ex parte application filed by Zenith Bank to preserve the funds until the court hears the motion. The court has restrained Petrocam and its agents from withdrawing, transferring, or otherwise dealing with the funds amounting to N9,057,511,855.63 until the case is resolved.

Additionally, the court has directed that the BVN of Patrick Ilo, the director of Petrocam, be targeted for verification. The court's order extends to major payment infrastructures and mandates financial institutions to enforce restrictions across digital wallets and electronic payment platforms.

The matter has been adjourned to March 17, 2026, for further mention.