By Ayomide Otitoju
PRO International Concept Ltd. has filed a contempt of court application at the Federal High Court in Lagos, seeking the imprisonment of Babatunde Olofin, Managing Director of Moniepoint, alongside several other bank executives, over alleged disobedience of court orders relating to the recovery of N95 million.
The company alleges that the sum was illegally withdrawn from its operational account held across multiple banks, including Moniepoint. According to court documents, the withdrawals followed a hacking incident on September 5, 2024, which saw N95 million fraudulently transferred through accounts in nine different banks.
In an affidavit sworn by Omotayo Adebayo, PRO International’s litigation manager, it was revealed that despite initial efforts by the banks to freeze the funds following “block and recall” requests, the freeze expired after 72 hours without court backing. Subsequently, PRO International secured a court order from a Nasarawa State district court on September 9, 2024, extending the freeze and later obtained a Federal High Court order on November 21, 2024, mandating the immediate return of the funds and investigations including placing liens on the accounts of the respondents.
The affected banks and their managing directors, including Olofin, were properly served but allegedly failed to comply with the court directives, prompting the contempt proceedings.
