ShopRite Faces Legal Action Over N1.76bn Court Judgment

Wale Igbintade

Retail Supermarkets Nigeria Limited (RSNL), popularly known as ShopRite, is facing legal action over a N1.76 billion judgment debt following its failure to comply with a court-approved settlement in favor of African Retail Tabloid Limited (ARTL) and UEL Global Resources Limited (UEL).

A demand letter dated November 7, 2025, and addressed to RSNL’s Managing Director, was issued by the companies’ legal representatives. 

The letter follows a Consent Judgment delivered by Justice Ambrose Lewis-Allagoa of the Federal High Court, Lagos Judicial Division, in favor of ARTL and UEL.

The dispute arose from two separate financial claims: ARTL’s petition seeking the winding-up of RSNL over an alleged debt of N440 million, and UEL’s summary judgment claim of N1.33 billion.

The parties initially sought an amicable settlement before the court.

Under the consent judgment, RSNL is required to pay a total of N1,765,991,433.23 in thirteen installments. 

The repayment schedule began with N400 million due on July 17, 2025, and is set to conclude with a final installment of approximately N66 million on January 18, 2026.

All payments are to be made directly into the creditors’ designated Zenith Bank accounts.

The judgment stipulates that in the event of default, the entire outstanding balance becomes immediately due and will accrue interest at 20 percent per quarter until fully repaid. 

Creditors are empowered to enforce the settlement through all necessary legal mechanisms, including proceedings arising from the winding-up petition.

According to the demand letter, RSNL has failed to comply with the terms of the judgment, triggering the default clause. 

The consent judgment, jointly presented by the legal teams of both parties, was formally adopted by the court on July 22, 2025, making it legally binding. 

The settlement agreement was intended to resolve both the winding-up petition and the summary judgment claim, bringing a long-standing financial dispute to a close. 

RSNL’s failure to honour the agreement may now lead to further court proceedings to enforce the settlement.