Justice Adetayo Aluko of a Federal High Court in Lagos has revoked the preliminary order which placed General Hydrocarbons Limited (GHL) and its assets under the purported Receiver Manager appointed by the Asset Management Corporation of Nigeria (AMCON), Sevi Akinwunmi.
Justice Aluko nullified the order in a ruling on the notice of preliminary objection filed by the Chairman of GHL, Prince Nduka Obaigbena, challenging the jurisdiction of the court to entertain the suit. Akinwunmi had filed the suit seeking to give effect to the purported receivership over General Hydrocarbons Limited and its assets.
In his ruling, the judge agreed with Obaigbena’s objection that the suit was an abuse of court process because of the prior existence of Suit No. FHC/L/ CS/1903/2025 – General Hydrocarbons Limited against AMCON & 3 others.
The court also held that Akinwunmi and his counsel commenced this suit in breach of the clear orders of Justice Ambrose Lewis-Allagoa in Suit No. FHC/L/ CS/1903/2025, marked September 23, 2025, wherein AMCON and its agents, privies, nominees, etc., were prohibited from appointing or continuing with the appointment of a receiver over General Hydrocarbons Limited and its assets.
The court further stated that Akinwunmi, having been appointed by AMCON, was an agent of AM- CON, and thereby bound by the orders of Justice Lewis-Allagoa in Suit No. FHC/L/CS/1903/2025 against AMCON.
Justice Aluko also acknowledged that Akinwunmi and his counsel, Bidemi Ademola-Bello (SAN), deliberately suppressed facts in commencing this suit and securing the interim orders against General Hydrocarbons Limited and its assets.
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.
Additionally, the court 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 can resolve all the disputes between the parties.
On this basis, the court held that the suit was an abuse of court process, having been commenced in violation of the prior orders of Justice Lewis-Allagoa in Suit No. FHC/L/ CS/1903/2025.
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. The judge consequently dismissed the suit and set aside his interim orders made on 24th October 2025.
