The legal battle between Femi Otedola’s First Bank and Nduka Obaigbena’s General Hydrocarbons Limited has intensified. In the latest development, the Federal High Court in Port Harcourt has granted an order to arrest and detain the crude oil cargo on board the Floating Production… pic.twitter.com/6q97XPErpj
— Premium Times (@PremiumTimesng) January 15, 2025
The legal battle between Femi Otedola’s First Bank and Nduka Obaigbena’s General Hydrocarbons Limited has intensified. In the latest development, the Federal High Court in Port Harcourt has granted an order to arrest and detain the crude oil cargo on board the Floating Production Storage and Offloading (FPSO) Vessel Tamara Tokoni.
Personnel of the Nigerian Navy have since detained the cargo in line with the court order, PREMIUM TIMES learnt early Wednesday morning.
The FPSO on board vessel Tamara Tokoni belongs to Ken Etete-led Century Group, an energy infrastructure provider. The FPSO at General Hydocarbons’ production site is just one of the several units it operates on behalf of clients across the country.
General Hydrocarbons, an oil servicing firm, is owned mainly by Mr Obaigbena, who also serves as Chairman and Editor-in-Chief of THISDAY and ARISE Media Group.
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