Swift Network Limited, a prominent broadband and data service provider, has strongly refuted the allegations that prompted the Federal High Court to grant an Ex Parte injunction to Union Bank. The court order, issued by Justice Daniel Osiagor on July 19, placed a No Debit Order on Swift Network's accounts, restricting access to a sum of N7,037,410,548.23 in 25 different banks. This interim order of Mareva Injunction was granted to Union Bank pending the resolution of an alleged debt recovery suit filed against Swift Networks.

Ex Parte injunctions are court orders that compel someone or a party to either take specific actions or refrain from doing something. They are issued without giving the opposing side an opportunity to present their case.

In response to the court's injunction, Swift Network's board of directors and shareholders released an official statement on July 21, 2023, vehemently contesting the allegations made by Union Bank. The company expressed its strong opposition to the Ex Parte order in court, as they were not informed by Union Bank, nor was their side of the story heard before the injunction was granted.

The statement issued by Swift Network read, "The board of directors and stakeholders of Swift Network Limited have just been made aware of a Federal High Court ex parte injunction granted to Union Bank. We wish to state that the allegations that formed the basis of the Ex Parte injunction are false and baseless. As such, we are vigorously opposing the Ex Parte order in court while also attempting to reach an amicable resolution with Union Bank. We were not informed by Union Bank, and the court did not hear our side of the matter before granting the injunction."

Despite the ongoing legal challenges, Swift Network reassured its valued customers and stakeholders that their services continue to operate uninterrupted, running 24/7. The company also emphasized that it can be reached through various channels, listed on its website at www.swift.com, as well as at its head office located at 31, Saka Tinubu Street, Victoria Island, Lagos.

The company remains committed to resolving the issues with Union Bank in an amicable manner while ensuring that their customers' connectivity needs are met without interruption. As the legal proceedings unfold, Swift Network Limited remains dedicated to delivering reliable broadband and data services to its clientele.