Nigerian commercial banks have been ordered by the Federal High Court in Lagos to refrain from disbursing or handling any funds or assets owed to Nduka Obaigbena from any account he owns. The total amount owed is $225.8 million.
At Arise News Channel and THISDAY Media Group, Obaigbena serves as both chairman and chief editor.
This ruling comes after a lawsuit brought by FBNQuest Trustees Limited and First Bank of Nigeria Limited.
As of September 30, 2024, the two claimed that General Hydrocarbons Limited owed them an astounding $225,802,379.69 ($225.8 million) in unpaid debt from credit facilities.
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Additionally, the court barred any commercial banks from disbursing or handling any funds or assets related to Efe Damilola Obaigbena, Olabisi Eka Obaigbena, and General Hydrocarbons Limited up to the specified sum.
The three people work for the oil and gas company General Hydrocarbons Limited as directors and owners.
On December 27, 2024, First Bank of Nigeria Limited and FBNQuest Trustees Limited filed a request for instructions from the court about a $225.8 million claim.
As of September 30, 2024, the plaintiffs claim that $225.8 million is an outstanding obligation on General Hydrocarbons’ First Bank account.
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