How do we recover our debt

Posted Wed, Jan 8, 2025 12:47 PM

This situation involves a breach of contract and possibly conversion (misuse of funds). Here's a step-by-step approach to resolve this issue legally:

1. Have a lawyer send a Formal Demand Letter
2. Initiate Legal Action (If No Response)
   . File a claim at the Magistrate or High Court (depending on jurisdiction and the claim amount).Request for a Writ of        Summons to compel payment.
3. Consider a Garnishee Order

If you can trace funds in his bank accounts or business accounts, seek a Garnishee Order to freeze and recover the money directly.

4. Attach Property or Inventory (Judgment Enforcement)

If he has assets (e.g., property or goods in his other businesses), you can request the court to attach and auction them to recover the debt.

5. Criminal Complaint (If Intentional Fraud)

If evidence suggests intentional fraud, file a petition with the police or the Economic and Financial Crimes Commission (EFCC) for investigation and possible prosecution.

Let me know if you need help drafting the demand letter or additional legal documents!