Nigeria, Jan. 30 -- First Bank of Nigeria has stated that the injunctive orders granted to it by Justice Deinde Dipeolu of the Federal High Court, Lagos, remain valid, even though the court has set aside a Mareva injunction freezing the assets of Global Hydrocarbons, and those of its directors up to the sum of $225.8 million.

The lender stated in a statement on Wednesday that the court ruled that the suit it filed against the energy firm before Justice Dipeolu did not amount to an abuse of court process as Global Hydrocarbons claimed.

On 13 January 2025, Nduka Obaigbena (the owner of Global Hydrocarbons and its directors asked the court to dismiss the suit "for being in gross abuse of the process of this Honourable Court."

Justice Dipe...