General Hydrocarbons Limited (GHL), along with its directors and shareholders, has initiated contempt proceedings against senior officials of the Asset Management Corporation of Nigeria (AMCON) for allegedly contravening a Federal High Court order.

GHL claims that AMCON misled Justice Akintayo Aluko of the Federal High Court, Lagos, by failing to disclose a prior injunction issued by Justice A. Lewis-Allagoa. That injunction reportedly restrained AMCON from taking any action to appoint or continue the appointment of a receiver over GHL.

In a statement, GHL alleged that AMCON and its lawyers misrepresented facts in court, claiming there was an Eligible Bank Asset (EBA) issued to GHL. According to the company, AMCON only made a partial payment to First Bank of Nigeria (FBN) and failed to complete the second tranche necessary to finalize the EBA transaction. FBN has since offered to return the deposit, but GHL claims AMCON has continued to pursue action against them instead of resolving the matter with FBN.

As a result, Form 48 – Notice of Consequence of Disobedience of Court Orders has been served on several AMCON officials and lawyers, including:

• Dr. Bala Bello, Chairman of AMCON
• Mr. Gbenga Alade, MD of AMCON
• Mr. Adeshola Lamidi, Executive Director (ED)
• Mr. Lucky Adaghe, ED
• Dr. Aminu Mukhtar Dan’amu, ED
• Mr. Oluseyi Akinwunmi, purported Receiver
• Mr. Bidemi Ademola-Bello SAN, Counsel to AMCON
• Mr. Ade Adedeji SAN, Counsel to AMCON

Justice Lewis-Allagoa has now ordered substituted service of the contempt processes through official emails, WhatsApp, physical delivery, and publication in at least two nationwide newspapers.

GHL maintains that this legal action is necessary to enforce court orders and prevent further alleged misconduct by AMCON.