A major legal confrontation is brewing as top officials of the Asset Management Corporation of Nigeria (AMCON) and two Senior Advocates of Nigeria (SANs) face contempt proceedings for allegedly disobeying subsisting court orders.
This comes as General Hydrocarbons Limited (GHL), alongside its directors and shareholders, has filed contempt charges against AMCON, accusing the corporation of deliberately suppressing material facts and engaging in gross abuse of court process.
According to filings before the Federal High Court, Lagos, AMCON and its lawyers allegedly failed to inform Justice Akintayo Aluko about an earlier order issued by Justice A. Lewis-Allagoa. The prior order had restrained AMCON from appointing or continuing with any receivership over GHL.
Despite being aware of the injunction, AMCON reportedly secured an ex parte order from Justice Aluko—an action GHL described as an attempt to mislead the court.
GHL further contends that AMCON misrepresented the status of an Eligible Bank Asset (EBA) from First Bank of Nigeria (FBN), insisting that only part payment had been made and that FBN had already offered to refund the incomplete transaction. Instead of pursuing the refund, AMCON allegedly targeted GHL in defiance of existing court records and correspondence.
Following these allegations, the Federal High Court issued Form 48 (Notice of Consequence of Disobedience to Court Orders) to several key AMCON officials, including Dr Bala Bello (Chairman); Mr Gbenga Alade (Managing Director); Mr Adeshola Lamidi; Mr Lucky Adaghe and Dr Aminu Mukhtar Dan’amu (Executive Director).
Also served were the AMCON-appointed receiver, Mr Oluseyi Akinwunmi, and AMCON’s counsel, Bidemi Ademola-Bello, SAN, and Ade Adedeji, SAN.
The two senior advocates now face additional petitions before relevant legal and judicial bodies, seeking their debarment and derobing for alleged misconduct and for “bringing the judiciary into disrepute”.
Justice Lewis-Allagoa has ordered that all contempt processes be served through substituted means, including email, WhatsApp, official addresses, and publication in national newspapers.
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