Court orders Ecobank Nigeria to pay N72.2bn in damages to Honeywell Flour Mills, as ruled by Justice Mohammed Liman of the Federal High Court in Lagos.

The legal battle between the two companies involved a series of allegations and counterclaims, with Ecobank obtaining ex-parte orders to freeze Honeywell Flour Mills’ assets, including its bank accounts, in 2015.

The freezing of accounts severely impacted Honeywell Flour Mills’ operations, causing financial strain and reputational damage.

In 2016, the Court of Appeal overturned the ex-parte orders, restoring Honeywell Flour Mills’ right to operate its accounts.

After subsequent appeals, the Supreme Court upheld the appellate court’s decision.

Honeywell Flour Mills sought damages of over N72bn, which the court granted in its ruling.