The commercial banks that enforced a Mareva injunction granted by the Federal High Court Lagos freezing the assets of energy firm Global Hydrocarbons and its directors have complied with another order by the court requesting the lenders to unblock the assets, a statement by the company said on Thursday.
“The compliance by the banks was effected in the face of false and misleading statements by FBN Chairman, Femi Otedola; Managing Director Olusegun Alebiosu and lawyers in the press today maliciously and mischievously misinforming the public on the clear and unambiguous ruling by the learned Judge,” the company said in the statement sent to PREMIUM TIMES.
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“This falsehood is the latest in a pattern of deceit and dishonesty from First Bank of Nigeria, that has left the public shocked and disappointed that a supposedly first-rate financial institution in a constitutional democracy like Nigeria would go so low and consciously and willfully disobey the law and continue to spread false information at will and without remorse,” it added.
Global Hydrocarbons, owned by the chairman of THISDAY Group Nduka Obaigbena, is a co-defendant in a lawsuit in which First Bank claimed the company owe it $225.8 million.
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Last month, First Bank and FBN Quest Limited, joint plaintiffs in the case, obtained the Mareva order from the Lagos court blocking the accounts and assets of the media mogul, his company and his two daughters who hold directorship roles on the board of General Hydrocarbons in all the commercial banks in Nigeria.
On 9 January, General Hydrocarbons, through its lawyers, informing the public of a previous order by Justice Amrose Lewis-Allagoa of the same court, restraining First Bank from “taking any steps whatsoever to enforce any security, receivables, instrument, finance documents or assets” of the company pending the hearing and determination of the ongoing arbitration proceeding between the two parties.
On Wednesday, Justice Deinde Dipeolu declared that the Mareva order violated an existing order from a court of concurrent jurisdiction.
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He noted that, compared with an earlier order granted by Justice Lewis-Allagoa in Suit No 1953, the order in question should be set aside.
First Bank responded in a statement on Wednesday, saying the injunctive orders granted to it by Justice Dipeolu remain valid, despite the court reversing two Mareva orders.
READ ALSO: Injunctive orders against Global Hydrocarbons, directors still stand – First Bank
Global Hydrocarbons remarked in its latest statement that it has no option but to initiate multiple lawsuits seeking damages for defamation, libel and breach of contract.
The company said it would continue to seek justice globally against “First Bank for breach of contract (by obtaining a benefit without complying with its obligations) after the lender restated its financial statements with the critical support of Global Hydrocarbons.”
The company said it is now asking the courts to “determine if First Bank’s audited accounts are correct in the face of non-compliance with the conditions precedent for those restatements in 2021/2022 where their N306billion loss became N151billion profit as stated in their current rights Issue.”
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