The Federal High Court in Port Harcourt, Rivers State, has dismissed a lawsuit filed by First Bank of Nigeria against General Hydrocarbons Limited (GHL), an energy company owned by Nduka Obaigbena, Chairman of THISDAY Media Group. Justice E.A. Obile ruled that the court lacked the jurisdiction to hear the case and deemed the suit an abuse of court process.
First Bank had initiated legal proceedings against GHL, alleging an outstanding debt of $225.8 million. The bank sought to recover this sum, claiming it represented the indebtedness on GHL’s account as of 30 September 2024.
Justice Obile upheld GHL’s preliminary objection, which challenged the court’s jurisdiction over the matter. The judge highlighted that the lawsuit violated existing orders from Justice Ambrose Lewis-Allagoa of the Federal High Court in Lagos, issued on 12 December 2024, in Suit No FHC/L/CS/1953/2024. These orders had restrained First Bank from enforcing any receivables related to the facility agreement between the parties.
The dismissal of the suit underscores the complexities surrounding jurisdictional authority in financial disputes. Legal experts suggest that First Bank may need to reassess its legal strategy, possibly seeking redress in a court with appropriate jurisdiction or exploring alternative dispute resolution mechanisms.
