Swift Network says Ex-Parte injunction to Union Bank baseless

Swift Community Restricted, a broadband and information service supplier, has described the allegations which led the Federal Excessive Courtroom to grant an Ex Parte injunction to Union Financial institution as ‘false and baseless’.

Ex parte injunction is a court docket order that tells somebody or a celebration to both do or cease doing one thing. It’s referred to as “ex parte” as a result of it’s issued with out listening to from the opposite facet.

The Federal Excessive Courtroom sitting in Lagos on 19 July, led by Justice Daniel Osiagor, positioned a No Debit Order on the accounts of the broadband and information providers supplier. The court docket granted Union Financial institution Plc. an interim order of Mareva Injunction restraining Swift Networks Restricted from accessing as much as the tune of N7, 037,410,548.23 of its cash in 25 banks pending the dedication of an alleged debt restoration swimsuit which was filed by Union Financial institution.

Nonetheless, the board of administrators and shareholders of Swift, in an official assertion launched on 21, July 2023, mentioned they’re opposing the injunction order in court docket as they weren’t knowledgeable by Union financial institution, nor did the court docket hear from them.

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The assertion reads that, “The board of administrators and stakeholders of Swift Community Restricted have simply been made conscious of a Federal Excessive Courtroom ex parte injunction granted to union financial institution. We want to state that the allegations that shaped the idea of the Ex Parte injunction are false and baseless, as such, we’re rigorously opposing the Ex Parte order in court docket whereas additionally attempting to succeed in an amicable decision with Union financial institution. We aren’t knowledgeable by union financial institution, nor did the court docket hear our personal facet earlier than the injunction was granted.

“Be that as it could, we want to reassure our esteemed prospects and stakeholders tha to our providers proceed to run 24/7 and we will nonetheless be reached by any of our channels listed on our web site www.shifting.com, our head workplace at 31, saka Tinubu avenue, Victoria island Lagos.”

They assured prospects and stakeholders of 24 hours operations regardless of the continuing challenges promising to resolve the problems amicably with Union financial institution.