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A Federal High Court, sitting in Lagos has revoked a preliminary order that placed General Hydrocarbons Limited (GHL) and its assets under receivership of a purported Receiver Manager appointed by the Asset Management Corporation of Nigeria (AMCON).
Justice Adetayo Aluko ruled that the suit filed by AMCON’s appointed Receiver Manager, Sevi Akinwunmi, was an abuse of court process, citing a prior suit (FHC/L/CS/1903/2025) filed by GHL against AMCON and others.
The court found that Akinwunmi and his counsel, Bidemi Ademola-Bello (SAN), deliberately suppressed facts and breached orders by Justice Ambrose Lewis-Allagoa, which prohibited AMCON from appointing a receiver over GHL’s assets.
The judge described the actions as a waste of the court’s time and resources, and dismissed the suit, setting aside the interim orders made on October 24, 2025. The ruling vindicated GHL’s Chairman, Prince Nduka Obaigbena, who challenged the receivership.
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The Court also held that if Akinwunmi and his counsel had disclosed the existence of the prior orders of Justice Lewis-Allagoa in Suit No. FHC/L/CS/1903/2025, Justice Aluko would not have granted the interim orders of 24th October 2025
The court also reviewed the subject matter and parties in the case before Justice Lewis-Allagoa, as well as the current lawsuit, and concluded that they are identical or very similar.
It found no justification for filing a new case on the same issue (by the same parties) when an earlier substantive suit in the same court could resolve all the disputes between the parties.
Justice Aluko also stated that Akinwunmi and his counsel’s actions could undermine the credibility of the judicial process and represent a significant waste of the court’s time and resources, which should be frowned upon.
