Court Rejects Access Bank’s Request to Freeze MTN Nigeria’s Accounts Over ₦180.95 Billion Dispute
A Federal High Court in Lagos has denied Access Bank Plc’s request to freeze the bank accounts of MTN Nigeria Communications Plc, in a major development in an ongoing legal battle over a ₦180.95 billion debt claim tied to an infrastructure-sharing agreement with the defunct Multi-Links Telecommunications.
The decision, delivered by Justice Akintayo Aluko, represents a significant procedural win for MTN and highlights the tangled financial legacy of a decade-old deal that continues to impact Nigeria’s corporate and telecom sectors.
Background: The Multi-Links Infrastructure Saga
At the heart of the dispute is a fibre infrastructure-sharing agreement between MTN Nigeria and Multi-Links Telecommunications, which dates back over ten years. The deal granted both telecom operators “irrefutable rights of use” over each other’s fibre infrastructure for ten years and expired in 2024.
According to court filings, Multi-Links reportedly underutilised MTN’s infrastructure, while MTN made extensive use of Multi-Links’ network. As Multi-Links fell into financial trouble and entered receivership under Diamond Bank, a proposed asset sale of Multi-Links’ fibre network to MTN collapsed due to disagreements over pricing—leaving unresolved financial claims and liabilities.
Access Bank’s Legal Move and MTN’s Lifeline
Access Bank, through its legal counsel Kunle Ogunba (SAN), filed a Mareva injunction seeking to freeze MTN’s bank accounts across all Nigerian financial institutions to the tune of ₦180.95 billion. The bank argued that the sum reflects debts owed by MTN to Multi-Links, now allegedly under the ownership of Hoop Telecoms, which claims to have acquired Multi-Links’ infrastructure.
The injunction also requested that all banks in Nigeria disclose MTN’s account balances under oath within seven days. The suit, filed under case number FHC/L/CS/1004/2025, aimed to secure funds in anticipation of the case’s outcome.
However, Justice Aluko ruled that MTN must be given the opportunity to respond before such sweeping financial restrictions could be imposed.
“Due to the peculiar nature of the case and the potential implications of the orders sought, especially in light of MTN’s correspondence marked ‘MTN 17’, the defendant must be heard before any orders are granted,” Justice Aluko stated.
The case has been adjourned to June 23, 2025, with the court directing MTN to appear and show cause within five days.
Wider Implications for MTN and the Financial Sector
This legal dispute adds to MTN Nigeria’s growing list of regulatory and financial challenges. In May 2025, MTN filed a separate lawsuit against over 20 Nigerian banks seeking to recover approximately ₦6 billion in unpaid interconnect fees from SleekChip Technologies, after securing a favourable judgment.
In the same vein, the Nigerian Communications Commission (NCC) has taken a tougher stance on debt recovery. Earlier in 2025, the regulator authorised the disconnection of USSD services to several banks over unpaid telecom debts. MTN subsequently recovered ₦32 billion of an outstanding ₦74 billion USSD debt as of February 2025.
MTN, which suffered a ₦400.4 billion loss after tax in 2024 due to naira devaluation and ₦925.36 billion in forex losses, has shown signs of recovery. The telco reported a ₦133.7 billion profit after tax in Q1 2025, buoyed by a regulator-approved tariff hike and historic revenue growth of ₦1 trillion in the first quarter alone.
Access Bank’s Assertive Debt Recovery Strategy
Access Bank, one of Nigeria’s largest financial institutions, has also been pursuing an aggressive strategy to modernise and expand. In 2024, it acquired the National Bank of Kenya and doubled its IT spending to ₦518.5 billion, reflecting its digital transformation ambitions.
The bank’s pursuit of a Mareva injunction against MTN shows its commitment to recovering disputed funds, but the court’s rejection highlights the need for caution in handling legacy agreements, especially in cases with unclear asset ownership and unresolved legal transitions, such as those involving Multi-Links and Hoop Telecoms.
Looking Ahead: A Potential Precedent in Telecom-Banking Disputes
As the June 23 hearing approaches, stakeholders in both the telecommunications and financial sectors will be closely monitoring MTN’s next move and whether the two parties can reach an out-of-court resolution.
The outcome could reshape how legacy telecom agreements, inter-corporate debts, and financial liabilities are litigated in Nigeria’s increasingly complex regulatory ecosystem.
For now, MTN Nigeria gets a temporary reprieve, but the legal storm surrounding the Multi-Links legacy continues to cast a long shadow over one of Africa’s telecom giants.
