Court to hear GHL’s ‘contempt’ suit against AMCON on Wednesday

The federal high court in Abuja has scheduled hearing, in a contempt suit filed by General Hydrocarbons Limited (GHL) against senior officials of the Asset Management Corporation of Nigeria (AMCON) and some of its external lawyers, for November 26. 

The suit alleges that AMCON officials and their legal representatives defied a subsisting order of the federal high court in Lagos and misled another judge in related proceedings.

GHL and its directors accused AMCON of “brazen contempt in the face of the court” for failing to disclose an earlier restraining order issued by Justice A. Lewis-Allagoa.

The order reportedly barred AMCON from appointing or continuing with the appointment of a receiver for GHL.

Despite this injunction, GHL claimed AMCON proceeded before Justice Akintayo Aluko to obtain an ex parte order without informing the court of the existing restraining order.

The company also alleged that AMCON misrepresented the status of an Eligible Bank Asset (EBA) it acquired from First Bank of Nigeria (FBN).

According to GHL, AMCON only made a partial payment for the asset, never completed the transaction, and therefore did not acquire the asset.

FBN has reportedly offered to refund the deposit paid by AMCON, as evidenced in court documents.

According to GHL, instead of pursuing FBN over the incomplete transaction, AMCON “inexplicably sought to take enforcement steps” against the company.

Following these allegations, Form 48 notices — warnings about the consequences of disobeying court orders — were issued to eight individuals linked to AMCON and its legal team.

The list includes:

Bala Bello, AMCON chairman

Gbenga Alade, managing director

Adeshola Lamidi, executive director

Lucky Adaghe, executive director

Aminu Mukhtar Dan’amu, executive director

Oluseyi Akinwunmi, the purported receiver for GHL

Bidemi Ademola-Bello, SAN, counsel to AMCON and its MD, present when the restraining order was issued

Ade Adedeji, SAN, representing AMCON and its MD

GHL applied for substituted service of the contempt processes (Form 49), leading Justice Lewis-Allagoa to order that all cited persons be served via official emails, WhatsApp, office delivery, and publication in at least two national newspapers and major news platforms.

The hearing signals a new phase in the protracted legal dispute between GHL and AMCON.

The Abuja court is expected to decide whether the actions of the named officials and lawyers constitute contempt of court — an offence that could result in sanctions, including imprisonment.