The commercial transaction misunderstanding between First Bank Nigeria Limited and General Hydrocarbons Limited (GHL) has taken a new twist with the bank securing a court order to arrest a vessel bearing crude oil of GHL.
The bank had, in a press statement on Tuesday, accused Hydrocarbons of off-taking crude from the Floating Production Storage and Offloading (FPSO) vessel, which left it with no choice than to “approach the court for legal remedies, to preserve assets, recover the diverted proceeds, prevent reoccurrences and safeguard FirstBank’s interest.”
Arising from a Motion Exparte by First Bank against GHL (1st Defendant), the cargo of crude oil on board FPSO Tamara Tokoni (2nd Defendant), owners/operators of FPSO Tamara Tokoni (3rd Defendant) and the Master, FPSO Tamara Tokoni (4th Defendant), the Federal High Court sitting in Port Harcourt has ordered “arresting and/or attaching and/or liening the entire cargo of crude oil on board the Floating Production Storage and Offloading (FPSO) vessels Tamara Tokoni presently located at Rivers State or wherever she may be found within the jurisdiction of this honourable court, pending the provision of a satisfactory guarantee from a first class Nigerian bank in the sum of $19, 752, 304.84 plus interest and costs by the said Defendants to secure the Plaintive claim herein or until this Honourable Court otherwise orders.”
The court presided by Justice E. A. Obile in the January 9, 2025 order also directed officers of the Nigerian Navy, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigerian Maritine Administration and Safety Agency (NIMASA), Habour Master of the Nigerian Ports Authority (NPA), to render necessary assistance to the Admiralty Marshall of this court in giving effect to the order of the arrest of the 2nd Defendant, in order to secure same and also to take other steps, including the provision of regular patrols and surveillance around her to prevent the 1st Defendant from dissipation until the order of the court has been complied with in respect of the arrest of the 2nd Defendant.
The court adjourned the case for mention to February 10, 2025.
First Bank had asked the court for an order to arrest the vessel bearing the crude oil earlier removed from FPSO by Hydrocarbons.
The bank also asked the court for an order directing the Nigerian Navy, NUPRC, NIMASA to assist the Admiralty Marshall to effect the order.
Meanwhile, the court has issued a notice of arrest in relation to the order.
The notice said: “The above cargo being in the custody or possession of the Admiralty Marshall by virtue of the warrant of arrest from the Federal High Court, Port Harcourt, all persons are hereby cautioned not to attempt to remove the same or interfere therewith without the authority in writing of the said Marshall or his substitutes, otherwise they will be immediately proceeded against.”