Nigeria, Nov. 9 -- The Asset Management Corporation of Nigeria (AMCON) has written thirty-four financial institutions in the country, requesting them to freeze the assets of General Hydrocarbons, an oil servicing firm.

General Hydrocarbons is majority-owned and controlled by Nduka Obaigbena, the chairman and editor-in-chief of THIS DAY newspaper and ARISE Media Group. The company is currently in receivership.

In one of the letters dated 6 November 2025, obtained by PREMIUM TIMES, Adedeji & Owotomo, LLP, counsel to Seyi Akinwunmi - the receiver/manager AMCON appointed to take over the company - informed First Bank Limited that the Federal High Court Lagos on 24 October issued a Mareva injunction barring the bank from releasing or dealing...