The Federal High Court sitting in Lagos has suspended its earlier order appointing an interim administrator for Green Energy International Limited and Lekoil Oil and Gas Limited, as well as a Mareva injunction granted against all banks and the Central Bank of Nigeria (CBN).
Justice Ambrose Allagoa ordered the suspension after hearing arguments from counsel representing the parties in the suit.
The defendants’ legal team, led by Chief Bode Olanipekun (SAN) and Mr. A.A. Malik (SAN), challenged the jurisdiction of the court to grant the interim orders without first putting the affected companies on notice.
Counsel to Otakikpo partners and shareholders of the companies argued that the applicants failed to disclose that arbitration proceedings were already ongoing on the dispute, thereby allegedly misleading the court.
They maintained that the ex parte orders, including the appointment of an interim administrator and the freezing of accounts through a Mareva injunction, were granted without affording the companies a fair hearing.
Ruling on the objections, Justice Allagoa held that once the issue of jurisdiction is raised, it must be determined before any further steps can be taken in the matter.
He consequently suspended the earlier interim orders pending the determination of all pending applications before the court.
The judge directed all parties to file and adopt their submissions on the preliminary objections and other applications arising from the interim orders.
Further proceedings in the matter have been adjourned to April 22, 2026.
