Ogun Court Fast-Tracks ₦2.25bn Dolphin Steels Asset Sale Dispute

An Ogun State High Court in Ifo has ordered an accelerated hearing in a ₦2.25 billion dispute over the proposed sale of Dolphin Steels Nigeria Limited’s assets, which are under receivership. Prodigy Finance Limited sued Zenith Bank and the company’s receiver/manager after paying ₦1.7 billion, about 75.6% of the agreed price, for the assets. The firm alleged that possession was not handed over as agreed and that its signed contract was not returned. The receiver/manager later terminated the transaction and offered to refund the payment, saying it did not follow an earlier payment structure. Prodigy Finance rejected the refund and is seeking damages, interest, costs and enforcement of the alleged agreement. The court refused an injunction application but shortened the deadline for the defendants’ responses. Pre-trial proceedings are scheduled to begin on September 7, 2026.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.