A Federal High Court in Lagos has refused a request by Access Bank Plc to freeze the bank accounts of MTN Nigeria Communications Plc over a disputed N180.95 billion debt claim arising from a defunct infrastructure-sharing agreement with now-collapsed Multi-Links Telecommunications.
In a ruling delivered by Justice Akintayo Aluko, the court declined to grant a Mareva injunction — a freezing order — sought by Access Bank and three companies under receivership: Multi-Links Telecommunications Limited, Capcom Telecoms Limited, and Cyancom Limited. The judge emphasized that MTN must first be given an opportunity to present its case before any such drastic order can be made.
“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,” the court held.
The court subsequently ordered MTN to appear and show cause within five days, with the matter adjourned to June 23, 2025, for further proceedings.
Access Bank, represented by Senior Advocate of Nigeria, Mr. Kunle Ogunba, filed an ex parte application requesting the court to restrain MTN from withdrawing or tampering with its funds across all Nigerian bank accounts up to the disputed amount of N180.95 billion.
The bank also sought a court order directing all financial institutions in Nigeria to disclose, under oath, the balances in all MTN accounts within seven days — a move designed to lock down MTN’s financial access pending the determination of the main suit (FHC/L/CS/1004/2025).
The claim, Access Bank argued, stems from alleged unpaid fees related to a decade-old fibre infrastructure-sharing agreement between MTN and Multi-Links.
The infrastructure-sharing deal at the heart of the dispute, according to sources, granted both MTN and Multi-Links “irrefutable rights of use” over each other’s fibre networks for ten years, an agreement that expired in 2024.
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While MTN reportedly made full use of Multi-Links’ infrastructure, Multi-Links — plagued by operational and financial troubles — is said to have underutilized MTN’s assets. As Multi-Links slid into insolvency, the company was placed under receivership by Diamond Bank, a role now inherited by Access Bank following its acquisition of Diamond Bank in 2019.
At one point, Multi-Links sought to sell its fibre assets to MTN, but the deal fell through due to pricing disputes.
Years later, a new company, Hoop Telecoms, emerged, claiming to have acquired the fibre infrastructure once owned by Multi-Links. Hoop proceeded to retroactively bill MTN nearly N170 billion, including charges dating back to years before the alleged acquisition.
MTN, however, flatly rejected the claim, asserting that its liability under the original contract was no more than N1 billion. The telecom giant took the matter to the Nigerian Communications Commission (NCC), which reportedly found that Hoop Telecoms lacked a valid telecoms licence and therefore had no legal standing to demand such payments.
Despite the NCC’s reported position and MTN’s resistance, Access Bank adopted Hoop Telecoms’ claim and pursued a legal resolution. Insiders say this raised eyebrows among industry observers, with suggestions that some parties saw the opportunity as a way to pressure MTN into a payout.
“There was talk that pushing MTN to pay could benefit everyone involved,” a source close to the matter revealed. “But MTN stood its ground and sought legal protection.”
Access Bank’s request for a Mareva injunction — a powerful legal tool used when plaintiffs fear a defendant may dissipate assets — was seen by MTN as an aggressive step. Industry insiders speculate that Access Bank may not have fully grasped the complex legal history of the Multi-Links-MTN deal and is now reassessing its approach.
Sources also confirmed that preliminary talks between MTN and Access Bank have begun, with both parties exploring an amicable resolution.