Court Orders Freeze on Osun State Accounts Over $13.9M Award
The Federal High Court in Lagos, presided over by Justice D.E. Osiagor, has mandated commercial banks to impose a "Post No Debit" restriction on accounts held by the Osun State Government.
This ruling follows an application from Gamji Nigeria Company Limited, represented by counsel Yunus AbdulSalam, SAN, in suit number FHC/L/CS/1233/2026. Gamji seeks to secure a total of $13,924,343.32 and N157.5 million awarded to it from an arbitration concerning water infrastructure projects in Ilesa West Local Government Area.
The dispute originated from two contracts awarded to Gamji in June 2017, with the projects financed by a loan from the Islamic Development Bank. Disagreements over contract modifications led to arbitration, which concluded with a final award on July 24, 2026, mandating the Osun State Government to pay the specified amounts, including interest at 20 percent per annum on any outstanding balance.
Plus234Feed summary based on reporting from Blueprint. Read the original report below.
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