News
GHL accuses AMCON of defying Court Order, moves to uphold rule of law
General Hydrocarbons Limited (GHL) has raised alarm over what it describes as an “unlawful attempt” by the Asset Management Corporation of Nigeria (AMCON) to appoint a receiver over its operations in defiance of a subsisting court order.
In a statement issued by the company’s management, GHL noted that the Federal High Court in Lagos, presided over by Justice Lewis Allagoa, had on September 23, 2025 (Suit No: FHC/L/CS/1903/2025), granted an interim injunction restraining AMCON, its managing director, First Bank of Nigeria (FBN), and the Attorney General of the Federation (AGF) from taking any enforcement action against the company or its assets.
The court order, which was reaffirmed in the presence of AMCON officials on October 22, 2025, specifically prohibited the appointment of any receiver, recovery agent, or asset manager over GHL’s assets pending the determination of the motion on notice.
GHL emphasized that it is not indebted directly or indirectly to AMCON and does not have any non-performing loans with FBN or any other financial institution in Nigeria.
“We expect institutions and government agencies to obey court orders and govern Nigeria based on the rule of law, not lend themselves as tools in the hands of private companies to intimidate citizens or corporate entities,” the statement read.
The company further disclosed that it has taken the matter concerning its crude oil to the Supreme Court (Suit No: SC/CV/929/2025) and has also filed to set aside an inconsistent arbitration award at the Federal High Court (Suit No: FHC/L/CS/2241/2025).
GHL stated that it will return to Justice Allagoa’s court on November 11, 2025, to report what it termed “material non-disclosure and flagrant disobedience” of the court’s orders.
Reaffirming its commitment to due process, GHL urged stakeholders to remain calm and expressed confidence that justice will prevail.
“As a law-abiding corporate citizen, we are certain that justice will be served in accordance with the law,” the company added.
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