GHL condemns AMCON’s unlawful attempt to appoint receiver despite valid court order

General Hydrocarbons Limited (GHL) has strongly condemned what it describes as an unlawful and contemptuous attempt by the Asset Management Corporation of Nigeria (AMCON) to appoint a Receiver over its assets, despite a valid and subsisting order of the Federal High Court restraining such actions.

In a statement issued by the company’s management, GHL emphasized that Justice Lewis Allagoa of the Federal High Court, Lagos Division, had on September 23, 2025, granted an Order of Interim Injunction in Suit No: FHC/L/CS/1903/2025, restraining AMCON, its Managing Director, First Bank of Nigeria (FBN), and the Attorney General of the Federation (AGF), from taking any enforcement steps against GHL or its assets.

The court’s order , which was reaffirmed in the presence of AMCON on October 22, 2025 , specifically prohibits any attempt to freeze GHL’s accounts, appoint a receiver or receiver-manager, or take possession of any assets belonging to GHL, its directors, or shareholders, pending the hearing and determination of the substantive motion on notice.

“We expect institutions and government agencies to obey court orders and govern Nigeria based on the rule of law,” GHL said. “No institution should lend itself as a willing tool in the hands of private interests to oppress or intimidate innocent citizens or corporate entities.”

GHL further clarified that it has no indebtedness, directly or indirectly, to AMCON and does not have any non-performing loans with First Bank of Nigeria, AMCON, or any other financial institution in the country.

According to the company, the current actions represent an abuse of court process and an attempt to unlawfully seize its assets under pretenses. GHL affirmed that it will vigorously defend its rights within the confines of the law.

The company also disclosed that the matter relating to its crude oil operations is now before the Supreme Court of Nigeria in Suit No: SC/CV/929/2025, and that it has moved to set aside an inconsistent arbitration award before the Federal High Court in Suit No: FHC/L/CS/2241/2025.

GHL and the relevant parties are expected to return to Justice Allagoa’s court on November 11, 2025, where the company will report what it described as material non-disclosure and flagrant disobedience of the existing court orders.

“As a law-abiding corporate citizen, we urge all stakeholders to remain calm,” the statement concluded.

“We are confident that justice will be served, and the sanctity of the rule of law upheld.”