News
General Hydrocarbons Issues Statement Addressing $225 Million Freezing Injunction On Its Bank Accounts
General Hydrocarbons Limited (GHL), owners and operators of OML 120, Deep Offshore Nigeria, has addressed a recent Mareva court injunction that temporarily freezes its assets across banks and digital platforms in Nigeria.
The reaction was contained in a statement dated January 10, 2025, and signed by Nduka Obaigbena, Chairman of the GHL Board.
Nairametrics previously reported that the Federal High Court in Lagos issued several orders, including a Mareva injunction, to freeze assets and accounts linked to General Hydrocarbons Limited, its affiliates, and prominent individuals, including media mogul Nduka Obaigbena.
The court’s decision follows allegations of unpaid loans totaling $225.8 million, owed to First Bank of Nigeria (FBN).
Reaction from GHL
In the statement, Obaigbena noted that amidst the claims and counterclaims surrounding GHL’s oil and gas drilling campaign on OML 120, Deep Offshore Nigeria, the public should be aware that GHL had entered into a Subrogation Agreement at FBN’s alleged request.
He stated that this agreement was aimed at addressing the bank’s non-performing loans (NPLs), which were becoming a systemic risk.
He added that under the agreement, FBN was to finance the exploration, development, and operations of OML 120, with both parties sharing profits.
“First Bank’s share was to be used to liquidate its Non-Performing Loans (NPLs). Following the Subrogation Agreement, we gave them comfort in a Tripartite Agreement, resulting in FBN’s return to profitability and growth,” Obaigbena stated.
However, he alleged that FBN had breached its obligations under both the Subrogation and Tripartite Agreements, leading to the current challenges.
“We are in court and arbitration to resolve our differences and have obtained a court order securing our operations pending determination. We hope for a favorable outcome under our system of justice,” he added.
Obaigbena also accused FBN of disregarding and disobeying a subsisting court judgment in favor of GHL, stating that the bank was allegedly misleading the public.
“Our lawyers are addressing this flagrant breach in the appropriate forum. There is no cause for alarm,” he added.
Obaigbena emphasized that GHL remains a Nigerian-owned company operating in Deep Offshore Nigeria, at depths of 850 to 1,000 meters, and 75 kilometers at sea.
“Our oil and gas campaign has discovered oil and gas to the glory of Nigeria, thanks to the ingenuity of our Nigerian-born engineers and technical partners, including Schlumberger (SLB), Baker Hughes, Century Group, and others,” the statement read.
He reassured stakeholders that GHL’s strong asset base positions the company to meet any financial obligations that may arise.
Obaigbena also called on partners to remain calm as the company seeks resolutions to the dispute through the courts, arbitration, or mediation.
He further claimed that GHL had voluntarily rescued FBN from collapse in the past, highlighting that their collaboration helped resolve FBN’s financial challenges while also contributing to the discovery of crude oil in Nigeria.
What You Should Know
The statement is in response to the Federal High Court ruling, which also barred General Hydrocarbons Limited and associated entities from transferring or dissipating assets while the legal dispute over unpaid loan facilities is resolved.
The court directed all major commercial banks and financial institutions in Nigeria to block the defendants’ accounts and restrict access to funds or assets up to the claim amount, pending further legal proceedings.
The injunction affects banks such as GTBank, Access Bank, Zenith Bank, and First Bank, as well as fintech platforms including Flutterwave, Paystack, and Piggyvest.
These entities were instructed not to release funds or handle assets linked to the defendants, including accounts associated with individuals like Efe Damilola Obaigbena and Olabisi Eka Obaigbena, and corporate entities such as GHL 121 Ltd and CESL Oyo Production.
Parties involved are expected to appear in court in the coming weeks to address the outstanding debt claims by FBN.
News
Police Arrest Officers Over Death Of 35-Year-Old Motorcyclist In Moniya
The Oyo State Police Command has confirmed the arrest and detention of several officers following the death of a commercial motorcyclist during a stop-and-search operation in the Moniya area of Ibadan.
The victim, 35-year-old Sanni Salisu, died during an alleged unauthorized stop-and-search by two officers from the Kara Police Outpost.
While police reported that Salisu suffered an epileptic seizure, witnesses and family allege he was struck by an officer during a struggle. He was pronounced dead upon arrival at a nearby hospital.
In a statement on Saturday, issued by the command’s Police Public Relations Officer, DSP Ayanlade Olayinka, and made available to newsmen in Ibadan, the incident occurred between police officers from the Border Patrol Unit stationed along the Iseyin/Oyo Road and a Fulani man riding a motorcycle.
According to Ayanlade, the individual became violent and restive, leading to a confrontation with the officers.
He added that during the ensuing clash, the man was struck and fell from his motorcycle.
The command’s PPRO said he was immediately rushed to a medical facility, where he was confirmed dead.
The statement read, “Earlier today, an encounter occurred between police officers from the Border Patrol Unit stationed along the Iseyin/Oyo Road and a Fulani man riding a motorcycle.
“Information available indicates that the individual became restive and violent, leading to a confrontation with the officers. During the ensuing clash, he was struck and fell from his motorcycle.
“He was immediately rushed to a medical facility, where he was confirmed dead.
“Following the incident, the Commissioner of Police has ordered the detention of all officers involved, pending the outcome of a thorough investigation, which is currently ongoing. The commissioner has also directed that an autopsy be conducted to medically ascertain the exact cause of death.
“It is pertinent to note that a brief protest occurred in Iseyin in response to the incident; however, the situation was swiftly brought under control, and the crowd was peacefully dispersed after assurances that justice will be served. A complete brief will follow soon.”
The incident comes amid renewed public scrutiny of police conduct following a recent case in Delta State, where a police officer was arrested over the alleged shooting of a restrained suspect.
The development drew widespread outrage after a video of the incident circulated online, prompting the authorities to transfer the case to the Force Headquarters for further investigation and disciplinary action.
The police authorities had said the move was aimed at ensuring transparency and accountability in the handling of the matter.
News
Remi Tinubu’s Ordination Predates Presidency By Over A Decade – Pastor Adeboye
Pastor Enoch Adeboye, General Overseer of the Redeemed Christian Church of God (RCCG) has clarified that Nigeria’s First Lady, Oluremi Tinubu, was ordained as an Assistant Pastor over 10 years ago before her husband assumed the presidency.
Speaking at the May monthly Holy Ghost Service tagged “Excellent Counsel”, held at the church’s sprawling 3 km by 3 km auditorium in Simawa, Ogun State, the revered cleric addressed criticism targeting the First Lady’s role within the church.
He revealed that Mrs Tinubu underwent the full rigours of the church’s spiritual formation process, including the baptismal class, the Workers in Training class, and the School of Disciples at the national headquarters before her ordination as an assistant pastor ten years ago.
Quoting scripture, Adeboye added, “There is no place in the Bible where it says the wife must dictate to the husband. What my Bible says is, ‘Husband, love your wife; wife, submit to your husband.’”
In his words: “Some people have been asking how we can allow the first lady to be a pastor in The Redeemed Christian Church of God, RCCG. Let me tell you one thing: the first lady did not join RCCG when she became first lady; she was ordained an assistant pastor 10 years ago. At that time, her husband was not even a contestant for the presidency. She passed through the baptismal class, workers in training class, and school of disciples at the national headquarters before she was ordained an assistant pastor 10 years ago.
“And she has not been promoted since then because there are still conditions she must satisfy before she can be ordained as a full pastor. And there is nowhere in the Bible where it says, “The wife must dictate to the husband.” What my Bible says is, “Husband, love your wife; wife, submit to your husband.”
The RCCG leader also noted that the First Lady has not received any promotion since her initial ordination, as there remain conditions she must satisfy before becoming a full pastor.
While declining to specify the three major offences that could lead to removal from pastoral office in RCCG, Adeboye confirmed that Mrs Tinubu “has not committed any of such offences”.
Pastor Adeboye also dismissed suggestions that the church is aligned with any political party, declaring that the RCCG remains a house of worship open to all Nigerians regardless of their political affiliation.
“Some people are saying RCCG is an APC church. I just smile. In RCCG, you will find a governor from the Peoples Democratic Party sitting down with a governor from the Labour Party, APC, and APGA. By the special help of God, we are representative of the whole nation, and that is what we will continue to be.”
The cleric made clear that while all politicians are welcome to worship, the pulpit remains off-limits for political speech.
“If you saw one governor among us today dancing and you were expecting he would be called forward to say something, we don’t do that. But if you come to worship with us, you are welcome. Our duty is to pray for everybody.”
News
Xenophobia: FG Weighs Evacuation Options As Anti-Migrant Groups Plan Nationwide Shutdown In SA
The Nigerian Consulate in South Africa, in collaboration with the Nigerian Citizens Association in South Africa (NICASA), has offered a free repatriation flight for Nigerians wishing to return home permanently due to the worsening xenophobic attacks in May 2026.
This follows reports of at least two Nigerian fatalities and widespread property damage in cities like East London, Cape Town, and Durban
Amid rising unrest in South Africa, the Nigerian Consulate in the country, in collaboration with the Nigerian Citizens Association in South Africa, has offered a free repatriation flight to Nigerians willing to return home permanently.
The President of NICASA, Frank Onyekwelu, who spoke to Saturday PUNCH, acknowledged that the situation had forced many Nigerians to shut their shops and businesses.
According to him, there is currently no structured support system in place for affected Nigerians, but the consulate’s intervention is already providing an option for those who wish to leave.
Onyekwelu said many Nigerians were already indicating interest in returning home.
He said, “The Nigerian Consulate in conjunction with NICASA has offered a free repatriation flight to any Nigerian who wishes to leave South Africa permanently, and the process is ongoing as we have recorded many Nigerians signalling interest to return home.”
Meanwhile, Nigerians in South Africa have narrated their harrowing experiences.
They lamented that the recurring violence had continued to threaten their safety, livelihoods, and mental well-being.
Those who spoke to our correspondents said they had been forced to stay indoors, and were now living in constant fear amid targeted attacks on foreign nationals.
Violent anti-foreigner protests erupted in cities such as Pretoria, Johannesburg, Durban, East London, and parts of KwaZulu-Natal, resulting in harassment, looting, property damage, and injuries.
This has triggered fear and panic within the diaspora community, with the Nigerians in Diaspora Commission directing Nigerian business owners to temporarily shut down to minimise risks and avoid losses.
The protests, according to reports, are being driven by community groups, anti-immigration organisations, and social movements such as Operation Dudula, the March and March Movement, and similar local initiatives, often under the banner of tackling illegal immigration and unemployment.
The demonstrations are organised by groups accusing migrants of causing economic hardship and crime, with activists demanding the deportation of undocumented foreign nationals, particularly those from African countries such as Nigeria, Ghana, Zimbabwe, Mozambique, and Somalia.
