A Federal Excessive Court docket in Lagos has declined Entry {Bank} Plc’s request to freeze the {bank} accounts of MTN Nigeria Communications Plc over a disputed N180.95 billion debt declare linked to a long-expired infrastructure-sharing take care of now-defunct Multi-Hyperlinks Telecommunications.
Justice Akintayo Aluko, ruling on an ex parte software filed by Entry {Bank} and three firms in receivership, Multi-Hyperlinks Telecommunications Restricted, Capcom Telecoms Restricted, and Cyancom Restricted, refused to problem an interim order freezing MTN’s funds.
The decide held that MTN should first be given a possibility to be heard earlier than any such drastic motion is taken.
The authorized claims
Entry {Bank}, by way of its counsel Mr. Kunle Ogunba (SAN), had requested an interim injunction restraining MTN from withdrawing or tampering with funds throughout all its accounts in Nigeria as much as the quantity of N180.95 billion.
The {bank} claimed this determine represents a long-standing debt owed by MTN to Multi-Hyperlinks.
As a part of the orders sought, the candidates additionally requested that every one {financial} establishments in Nigeria be directed to reveal, below oath, the balances in MTN’s accounts inside seven days.
The swimsuit, marked FHC/L/CS/1004/2025, basically sought to lock down MTN’s funds pending the willpower of the principle swimsuit.
Nonetheless, Justice Aluko dominated that, whereas the plaintiffs introduced a seemingly compelling case, MTN should be allowed to reply.
“As a result of peculiar nature of the case and the potential implications of the orders sought, particularly in gentle of MTN’s correspondence marked ‘MTN 17,’ the defendant should be heard earlier than any orders are granted,” the decide stated, in accordance with ThisDay Newspaper.
The court docket ordered MTN to seem and present trigger inside 5 days, with the case adjourned to June 23, 2025, for additional proceedings.
Backstory
On the coronary heart of the dispute is a fibre-sharing Contract between MTN and Multi-Hyperlinks relationship again over a decade, sources say.
The deal gave each events “irrefutable rights of use” of one another’s fibre infrastructure for 10 years, expiring in 2024.
Nonetheless, because of {financial} and operational setbacks, Multi-Hyperlinks reportedly underutilised MTN’s infrastructure whereas MTN made vital use of Multi-Hyperlinks’ community.
As Multi-Hyperlinks spiralled into {financial} misery, the corporate went into receivership below the management of Diamond {Bank}. Earlier than it folded, Multi-Hyperlinks tried to promote its fibre belongings to MTN, however negotiations collapsed over pricing disagreements.
Years later, an organization named Hoop Telecoms emerged, claiming to have acquired Multi-Hyperlinks’ fibre infrastructure. Nonetheless, Hoop reportedly disclaimed any duty for Multi-Hyperlinks’ previous liabilities. Regardless of this, the corporate billed MTN practically N170 billion, retroactively charging for years previous to its supposed acquisition of the belongings.
MTN flatly rejected the demand, estimating its precise obligation below the unique Contract at simply over N1 billion. The telecoms agency additionally took the matter to the Nigerian Communications Fee (NCC), which reportedly discovered that Hoop Telecoms lacked a legitimate telecom licence and thus had no authorized standing to make such claims.
The state of affairs grew extra complicated after Entry {Bank} acquired Diamond {Bank} in 2019, thereby assuming management of Multi-Hyperlinks’ receivership. In line with sources aware of the case, Entry {Bank} aligned itself with Hoop Telecoms’ claims and pushed for a authorized settlement, which MTN resisted.
One insider advised Nairametrics that a number of vested pursuits, together with political actors, noticed the declare as a possibility to strain MTN right into a payout.
“There was speak that pushing MTN to pay may benefit everybody concerned,” the supply stated. “However MTN stood its floor and sought authorized safety.”
Caught on this net of authorized and business ambiguity, MTN sought a court docket’s safety. However to the corporate’s shock, Entry {Bank} approached a court docket looking for a Mareva injunction, a authorized order to freeze MTN’s accounts throughout Nigerian banks to the tune of N180.95 billion. Such orders are usually issued when a plaintiff fears the defendant might dissipate belongings to frustrate judgment enforcement.
Insiders recommend that Entry {Bank} might not have been totally briefed on the intricate historical past and authorized background of the Multi-Hyperlinks-MTN association and may now be reconsidering its place.
In line with one supply, MTN and Entry {Bank} have since opened traces of communication to discover an amicable decision of the matter.
What’s subsequent?
The decide’s refusal to grant the Mareva injunction presents MTN some short-term aid, however the authorized battle is much from over.
The corporate now has till June 23 to reply formally and argue why the court docket mustn’t freeze its accounts.
MTN declined to remark when contacted, stating that the case is subjudice. Entry {Bank} has but to answer Nairametrics’ enquiry as of press time.
Whereas the ultimate consequence stays to be seen, the case raises deeper questions in regards to the enforcement of legacy telecom agreements, the authorized dangers round receivership claims, and the affect of non-commercial pursuits in high-stakes disputes.
MTN Authorized Battles
This isn’t the primary time MTN Nigeria has discovered itself within the crosshairs of authorized and regulatory disputes.
In Could 2025, the telecom large sued over 20 Nigerian banks to recuperate roughly N6 billion in unpaid interconnect charges from SleekChip Applied sciences, following a beneficial Federal Excessive Court docket judgment confirming the debt
Shortly after, MTN’s CEO and key executives had been slated for arraignment by the Federal Competitors & Client Safety Fee (FCCPC) over allegations of obstructing the company’s investigation, sparked by their reported failure to adjust to a lawful summons.
Earlier in 2023, MTN additionally confronted scrutiny from Nigerian tax authorities over alleged underpayment of duties and levies tied to digital and worldwide calls.
MTN has since resolved a few of these points.
