Justice Deinde Isaac Dipeolu of the Federal High Court, Lagos, has granted an interim order authorising Lotus Bank Limited to take possession of assets belonging to Unpacked Limited (in receivership), a company owned by EndSARS activist Feyikemi Abudu, over an alleged debt of ₦532.6 million.

The order followed an ex parte application by the bank’s counsel, A. Adedoyin-Adetunji, seeking approval to recover the outstanding debt arising from an Ijara Muntaluya Bittamleek (lease-to-own) facility extended to the company.

In the motion marked FHC/L/CS/2097/2025, the bank sought leave to take over Unpacked Limited’s movable and immovable assets and freeze accounts linked to the company and its guarantor, Oluwafemi Badewole, across more than 25 banks and digital finance platforms.

The restraining order affects commercial banks including GTBank, Access Bank, First Bank, UBA, Zenith Bank, and Fidelity Bank, as well as fintech platforms such as Opay, Palmpay, Paystack, Piggyvest, and Momo Agent.

The court also authorised the bank’s appointed receiver/manager, Patrick Mgbeoma, to take control of all assets covered under the Deed of All Assets Debenture dated May 25, 2025, and the Deed of Appointment of Receiver dated October 6, 2025.

Justice Dipeolu further granted the bank’s request for police protection, directing the Inspector-General of Police, the Lagos Commissioner of Police, and other senior officers to assist court bailiffs and the receiver during the enforcement process.

The affected company, located at VPD Academy Building 4, Thorburn Avenue, Yaba, Lagos, allegedly houses some of the assets listed in the loan agreement.

After reviewing the affidavit and exhibits filed by the bank, Justice Dipeolu granted all reliefs sought and adjourned further hearing to October 31, 2025.