Court Rejects Access Bank’s Request to Freeze MTN Nigeria’s Accounts Over N180.95bn Debt

A Federal High Court in Lagos has rejected Access Bank’s request to freeze MTN accounts over a disputed debt of N180.95 billion. This decision is a major setback for Access Bank, which had hoped to freeze MTN Nigeria’s accounts as a way to secure payment from a long-running disagreement tied to an expired infrastructure-sharing deal with the now-defunct Multi-Links Telecommunications.

The legal battle began over ten years ago when MTN Nigeria and Multi-Links signed a fibre-sharing agreement. Both companies were supposed to use each other’s fibre networks for a decade. However, Multi-Links struggled financially and could not fully use MTN’s infrastructure, while MTN made more use of Multi-Links’ network. As Multi-Links’ financial problems grew, it was taken over by Diamond Bank, which later became part of Access Bank. Efforts to sell Multi-Links’ fibre assets to MTN failed due to disagreements on price, leaving the debt issue unresolved.

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Access Bank’s request to freeze MTN Nigeria’s accounts over N180.95bn debt was made through an urgent court application. The bank argued that MTN owed this money to Multi-Links, now supposedly under the control of Hoop Telecoms, which claimed to have bought Multi-Links’ fibre assets. Access Bank wanted a Mareva injunction, a special court order that can freeze a company’s bank accounts if there’s a fear that the money might disappear before a final judgment is reached.

The bank also asked the court to force all Nigerian banks to reveal how much money MTN had in its accounts, and to stop MTN from moving any funds until the main court case was resolved. However, Justice Akintayo Aluko, who presided over the case, refused to grant the order. He said that MTN must be given a chance to respond before such a serious step can be taken. The judge explained that because of the complicated nature of the case and the possible consequences, it would not be fair to freeze MTN’s accounts without hearing from the company first.

As a result, the court ordered MTN to appear and explain why its accounts should not be frozen. The next court date is set for June 23, 2025, when MTN will present its side of the story. If MTN’s arguments are strong, the request to freeze its accounts may be dismissed completely. But if Access Bank can prove its case, the court could still decide to freeze the accounts later on.

This case is just one of several legal and financial challenges MTN Nigeria has faced recently. Earlier in 2025, MTN sued more than 20 Nigerian banks to recover unpaid fees. The company has also dealt with large losses due to naira devaluation and foreign exchange issues, though it showed signs of recovery in early 2025 with a profit and record revenue.

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For Access Bank, the case shows how Nigerian banks are becoming more aggressive in trying to recover debts, especially when large sums are involved. The court’s refusal to freeze MTN Nigeria’s accounts, however, highlights the need for strong evidence and fair hearing before such drastic actions can be taken.

As the hearing date approaches, many in Nigeria’s banking and telecom sectors are watching closely. The outcome could set an important example for how similar disputes are handled in the future, especially when it comes to enforcing old agreements and dealing with complex financial claims. For now, the court rejects Access Bank’s request to freeze MTN accounts, giving MTN some breathing room as the legal fight continues.

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