Court Freezes Alerzo's Assets in N4.38bn Loan Dispute with Moniepoint Bank

The Federal High Court in Lagos has frozen the assets of Alerzo Limited in a N4.38 billion loan dispute with Moniepoint Microfinance Bank Limited. The court granted a Mareva injunction against Alerzo and its associates, restraining financial institutions from releasing funds linked to the defendant pending the resolution of the debt recovery suit valued at N4,381,662,054.47.

Alerzo Limited, a Singapore-based entity, is accused of defaulting on a N5 billion loan facility granted in 2025. Despite demands for repayment, Alerzo allegedly failed to liquidate its debt, leading to an outstanding balance of N4.38 billion with accruing interest.

The bank also claimed difficulties in serving court processes to the guarantors due to their unknown addresses. Justice Daniel Osiagor presided over the matter and granted Moniepoint's application for the asset freeze and disclosure of the defendant's account balance within seven days.