A Federal High Court in Lagos has ordered a freeze on the bank accounts of Mrs. Okonjo Udokanma, a well-known businesswoman and former Special Adviser to the Senate, following a dispute over an unpaid debt of $97,982.19.
The interim order was issued by Justice Lewis Allagoa after Providus Bank filed a case claiming Udokanma failed to repay a credit facility tied to a luxury banking card.
According to Providus Bank, Udokanma was given a World Elite Card in 2018, designed for wealthy clients and offering an overdraft limit of $50,000 along with exclusive benefits like access to VIP lounges and hotel privileges.
The bank said she began using the overdraft on August 1, 2018, and kept up with repayments for a while.
However, from February 2020, she allegedly stopped repaying the debt but continued using the facility, which eventually led to a nearly $98,000 outstanding balance as of January 2025.
Despite several reminders and final demand letters, including one sent in January 2025, the bank said it received no meaningful response.
The only reply came when Udokanma asked for a detailed breakdown of the charges and a copy of the original contract.
Still, she reportedly took no further action to settle the debt.
Concerned that she might move or hide the money, the bank sought and received court permission to freeze her accounts in six Nigerian commercial banks until the case is resolved.
The court also allowed the bank to serve court papers by posting them at her last known address on Cooper Road in Ikoyi, Lagos, after traditional methods of delivery failed.
Providus Bank told the court it was taking this step to prevent a situation where a future judgment would be useless if the funds were no longer accessible.
The bank has also promised to pay damages if the court later finds its case to be unjustified.
The matter is ongoing, awaiting the next court hearing.
