Retail Supermarkets Nigeria (ShopRite) Faces Legal Action Over N1.76 Billion Judgment Debt

Retail Supermarkets Nigeria Limited (RSNL), operators of ShopRite in Nigeria, is facing potential enforcement proceedings over a judgment debt of N1.76 billion after allegedly defaulting on a court-sanctioned settlement with African Retail Tabloid Limited (ARTL) and UEL Global Resources Limited (UEL).

The creditors, through their solicitors, issued a demand letter dated November 7, 2025, addressed to the Managing Director of RSNL, notifying the retail giant of its failure to comply with the terms of a Consent Judgment delivered by Justice A. Lewis-Allagoa of the Federal High Court, Lagos.

The dispute originated from two separate claims:

• A winding-up petition filed by ARTL over an alleged N440 million debt, and
• A summary judgment application by UEL seeking N1.33 billion.

Both matters were brought before the court but were later resolved through a mutually agreed settlement.

Under the Consent Judgment, RSNL was mandated to pay a total sum of N1,765,991,433.23 in thirteen instalments, beginning with N400 million on July 17, 2025, and ending with a final instalment of about N66 million due on January 18, 2026. Payments were to be made directly into the creditors’ designated Zenith Bank accounts.

The judgment further provides that failure to meet any instalment triggers the default clause, making the entire outstanding balance immediately due and accruing interest at 20 percent per quarter until fully liquidated. It also authorizes the creditors to initiate enforcement proceedings, including steps arising from the earlier winding-up petition.

According to the demand letter, RSNL has failed to meet its payment obligations, activating the default provision and exposing the company to immediate legal action.

The settlement—jointly submitted by both parties’ legal teams and adopted by the court on July 22, 2025—was represented by A.P. Ewaoyenikan, Esq., and H.T. Abdulsalem, Esq., for ARTL, while RSNL was represented by N. Ogunsakin, Esq.

Although the Settlement Agreement was intended to finally resolve the long-running financial dispute, RSNL’s alleged non-compliance now opens the door for fresh proceedings aimed at enforcing the judgment in full. (First Weekly)