Section 50: Application for interlocutory freezing order. (amended by Section 16 of the Asset Management Corporation of Nigeria Amendment Act, No. 2, 2019)

(1) Where the Corporation has reasonable cause to believe that a debtor or debtor company has funds in any account with any eligible financial institution, it may apply to the Court, before, or at the time of filing of action for debt recovery or other like action or at any time after the filing of action, and before or after the service of the originating process by which such action is commenced on the debtor or debtor company, by motion ex-parte for an interlocutory order freezing the debtor or debtor company's account.
(2) Notwithstanding anything to the contrary in any enactment, an order made under subsection (1) shall subsist till judgment or a final determination of the action, unless expressly discharged by the Court.