Court Orders Takeover of FK Abudu's Family Firm Over N532m Debt

The Federal High Court in Lagos has granted an interim order for Lotus Bank Limited to take possession of assets belonging to FK Abudu's family firm over an alleged debt of N532 million. The court also appointed Patrick Mgbeoma as the receiver to manage and realize the assets.

Several financial institutions, including major banks, were restrained from tampering with any funds linked to the firm. The court directed the police to provide security during the takeover process at the company's premises in Lagos.