ShopRite risks fresh legal battle over N1.76bn judgement debt

Retail Supermarkets Nigeria Limited (RSNL), operators of ShopRite in Nigeria, is facing renewed legal action after allegedly defaulting on a court-approved settlement requiring it to pay N1.76 billion to African Retail Tabloid Limited (ARTL) and UEL Global Resources Limited (UEL).

In a demand letter dated November 7, 2025, and addressed to RSNL’s Managing Director, the creditors’ lawyers accused the retailer of failing to comply with a Consent Judgment issued by Justice Ambrose Lewis-Allagoa of the Federal High Court, Lagos.

The judgment stemmed from two separate claims: ARTL’s winding-up petition over an alleged N440 million debt and UEL’s N1.33 billion summary judgment suit.

Both matters were consolidated after the parties opted for an amicable settlement.

Under the terms of the consent judgment, RSNL agreed to pay N1,765,991,433.23 in 13 installments, starting with N400 million due on July 17, 2025, and ending with a final installment of about N66 million on January 18, 2026.

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

The agreement states that any default would make the entire outstanding balance immediately due, with interest accruing at 20 percent per quarter.

The creditors are also empowered to enforce compliance using all available legal mechanisms, including the pending winding-up proceedings.

The demand letter alleges that RSNL has failed to meet the payment terms, thereby activating the default clause.

The consent judgment was formally adopted by the court on July 22, 2025, making it binding on all parties.

With the retailer now in breach of the settlement, ARTL and UEL may initiate fresh enforcement actions to recover the outstanding sum.