Moniepoint Microfinance Bank Limited has sued Alerzo Limited and its directors over an alleged N4.38 billion loan default.

The Federal High Court in Lagos granted an interim Mareva injunction freezing all accounts linked to the defendants.

Justice Daniel Osiagor also ordered banks to disclose account balances and approved substituted service on local defendants.

A foreign affiliate of Alerzo will be served court papers in Singapore.

The case is awaiting further hearing.