GHL Slams AMCON’s ‘Contemptuous’ Receiver Bid Despite Clear Court Restraint
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General Hydrocarbons Limited (GHL) has voiced strong objections to what it characterizes as an illegal and defiant attempt by the Asset Management Corporation of Nigeria (AMCON) to install a Receiver over the company.
GHL asserts that this move flagrantly disregards a valid, existing injunction from the Federal High Court.
In a powerful statement released on Wednesday, the company detailed that Justice Lewis Allagoa of the Federal High Court, Lagos, issued an interim injunction on 23 September 2025 (in Suit No: FHC/L/CS/1903/2025).
This order explicitly restrains AMCON, its Managing Director, the Attorney General of the Federation, First Bank of Nigeria (FBN), and their agents from enforcing any rights over GHL or its assets while the substantive motion remains pending.
General Hydrocarbons Limited further highlighted that this critical order was reaffirmed in open court on 22 October 2025, with AMCON’s own representatives present.
The restraining order, according to the GHL statement, unequivocally bars AMCON and all persons acting on its behalf from taking any action to enforce rights against GHL or its assets, which includes, but is not limited to, freezing accounts, or the appointment of any Receiver/Receiver Manager, Asset Manager, or Recovery Agent.
This blockage specifically covers enforcement actions stemming from agreements related to AMCON’s acquisition of FBN’s non-performing loan against GHL.
GHL condemned the attempt to override the court directive as a calculated abuse of judicial processes and part of an alleged scheme by various institutions and parties acting in concert to unlawfully seize the company’s assets.
The energy firm stressed its expectation that government agencies and institutions adhere to the rule of law and not allow themselves to be exploited by private companies to oppress innocent corporate bodies or individuals.
The company went further to categorically assert that it holds no debt to AMCON, FBN, or any Nigerian financial institution, either directly or indirectly. Consequently, GHL labeled the attempts to appoint a Receiver as “corrupt, fraudulent, and driven by ulterior motives.”
GHL also disclosed that its long-running dispute over crude oil entitlements has escalated to the Supreme Court (Suit No: SC/CV/929/2025). Additionally, it is challenging a purported inconsistent arbitration award at the Federal High Court (Suit No: FHC/L/CS/2241/2025).
All involved parties, including AMCON and its legal proxies, are scheduled to return before Justice Allagoa on 11 November 2025.
GHL confirmed its intention to formally report the alleged material non-disclosure, abuse of court processes, and the clear disregard for the subsisting orders of the Federal High Court at that time.
The company insisted it will “vehemently resist” any illegal takeover maneuvers, while simultaneously urging partners, investors, and the public to remain calm, expressing confidence that “justice will be served according to the law.”
