By Charles Pemu 
A major judicial storm is brewing at the Federal High Court in Lagos as General Hydrocarbons Limited (GHL), its Directors, and Shareholders have initiated fierce contempt proceedings against top officials of the Asset Management Corporation of Nigeria (AMCON), including two Senior Advocates of Nigeria (SANs), for alleged gross abuse of court process and deliberate disobedience of a restrictive injunction.
The legal action stems from AMCON’s alleged failure to disclose to Justice Akintayo Aluko a substantive injunction previously issued by Justice A. Lewis-Allagoa. Days before AMCON secured an Ex Parte Order, Justice Lewis-Allagoa had explicitly restrained the corporation from taking any steps whatsoever towards appointing or continuing with any appointment of a Receiver over GHL.
GHL asserts that AMCON and its lawyers intentionally withheld this crucial information, allowing them to proceed and obtain the subsequent order, an action GHL describes as an act of impunity that brings the judiciary into disrepute.
The gravity of the situation is underscored by the issuance of the Form 48 – Notice of consequence of disobedience of court orders against AMCON’s highest hierarchy. Those served include the Chairman, Dr Bala Bello, the Managing Director, Mr Gbenga Alade, and Executive Directors Mr Adeshola Lamidi, Mr Lucky Adaghe, and Dr Aminu Mukhtar Dan’amu. Also named is the purported Receiver appointed by AMCON, Mr Oluseyi Akinwunmi.
Furthermore, petitions for contempt, debarment, and derobing have been filed against the two SANs involved. Mr Bidemi Ademola-Bello SAN is specifically cited as he was reportedly in court when the original restraining order was made and allegedly undertook in open Court to abide by it. Mr Ade Adedeji SAN, whose firm represents AMCON, is also facing the serious legal challenge.
Allegations of Misleading the Court on EBA
GHL further accuses AMCON of misleading the court by misrepresenting facts regarding an Eligible Bank Asset (EBA). GHL insists that an EBA was never fully concluded, as AMCON made only a part-payment (Tranche 1) to First Bank of Nigeria (FBN) but failed to remit the final payment.
FBN has since offered to return this deposit to AMCON. GHL questions why AMCON is inexplicably pursuing GHL, despite correspondence showing the issue lies with FBN, arguing the move is an egregious abuse of power.
To ensure accountability, Justice A. Lewis-Allagoa has ordered substituted service of the Contempt processes on all named individuals through their official email addresses, WhatsApp phone numbers, official addresses, and via publication in at least two major newspapers and other news media.