Moniepoint Sues Alerzo Over ₦4.38bn Loan, Secures Asset Freeze Order

Moniepoint Microfin Bank Limited has taken legal action against Alerzo Limited and its directors at the Federal High Court in Lagos over an alleged ₦4.38 billion debt arising from a loan facility granted to the company. Moniepoint is seeking to recover the outstanding balance of ₦4,381,662,054.47, which was part of a ₦5 billion working capital loan advanced to Alerzo Limited.

The lawsuit alleges that despite repeated assurances, Alerzo Limited has failed to repay the loan, leading to the total indebtedness as of December 3, 2025. The court has issued an asset freeze order, restraining multiple financial institutions from dealing with funds or assets belonging to Alerzo Limited.

Justice Daniel Osiagor has granted several interim orders, including allowing Moniepoint to serve the defendants through substituted means and via courier for the fifth defendant located in Singapore.