Banks Comply With Court Ruling Lifting Exparte Mareva Order Against GHL

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Banks across board have complied with the ruling of Justice Deinde Dipeolu of the Federal High Court delivered on the 29th of January 2025 lifting the Mareva injunction placed on General Hydrocarbons Limited (GHL), its directors and shareholders.

The management of the company in a statement noted that the compliance by the banks was effected in the face of false and misleading statements by First Bank of Nigeria (FBN) Chairman, Femi Otedola, Managing Director Olusegun Alebiosu and Lawyers in the media “maliciously and mischievously misinforming the public on the clear and unambiguous ruling by the learned Judge.”

The statement added that “This falsehood is the latest in a pattern of deceit and dishonesty from First Bank of Nigeria, that has left the public shocked and disappointed that a supposedly first-rate financial institution in a constitutional democracy like Nigeria would go so low and consciously and wilfully disobey the law and continue to spread false information at will and without remorse.

“GHL has thus been left to file multiple cases across borders seeking damages for defamation, libel and breach of contract”.

It will be recalled that the Mareva injunction was secured in the first place by First Bank when they suppressed material information and failed to fully disclose a subsisting Judgement of the same Federal High Court in Lagos.

GHL said it “will continue to seek justice worldwide against FirstBank for breach of contract (by obtaining a benefit without complying with it’s obligations) after restating its financial statements with the critical support of GHL who are now asking the Courts to determine if FirstBank’s Audited Accounts are correct in the face of non compliance with conditions precedent for those restatements in 2021/2022 where their N306billion loss became N151billion profit as stated in their current Rights Issue.”

This post has already been read at least 111733 times!