Close Menu
  • Home
  • Politics
  • Crime
  • Education
  • Metro
  • Entertainment
  • International
  • Sports
  • Health
What's Hot

RAAMP: Abia PDP And The Audacity Of Shamelessness (OPINION)

June 29, 2025

BREAKING: APC National Chairman, Ganduje Resigns

June 27, 2025

NAPTIP Declares Speed Darlington Wanted Over Rape, Cyberbullying, Cyberstalking

June 27, 2025
Facebook X (Twitter) Instagram
Trending
  • RAAMP: Abia PDP And The Audacity Of Shamelessness (OPINION)
  • BREAKING: APC National Chairman, Ganduje Resigns
  • NAPTIP Declares Speed Darlington Wanted Over Rape, Cyberbullying, Cyberstalking
  • Armed Bandits Storm Police Camp In Kebbi, Cart Away Rifles
  • RIVERS: Fubara Reportedly Accepts Condition To Quit Re-election Ambition For Return
  • Gov. Otti To Flag Off Construction Of Medical City Next Month, 11 Rural Roads, 3 Agro-logistics Hubs
  • United States Issue Security Alert Advising Citizens On Military, Government Facilities In Nigeria
  • Kidnappers Hijack Commercial Vehicle in Benue
Facebook X (Twitter) YouTube
Candid ReportersCandid Reporters
  • Home
  • Politics
  • Crime
  • Education
  • Metro
  • Entertainment
  • International
  • Sports
  • Health
Candid ReportersCandid Reporters
Home»Crime»Court Rules on First Bank, Nduka Obaigbena Alleged $225.8m Debt
Crime

Court Rules on First Bank, Nduka Obaigbena Alleged $225.8m Debt

Candid ReportersBy Candid ReportersJanuary 15, 2025Updated:January 15, 2025No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Email Telegram WhatsApp Copy Link

The oil vessel belonging to General Hydrocarbons Limited, a company owned by the Chairman and Editor-in-Chief of the ThisDay Media Group and Arise Group, Nduka Obaigbena has been ordered for immediate seizure by a federal High Court in Port Harcourt, Rivers State.

CANDID REPORTERS gathered that the order to seize cargo, Floating Production Storage and Offloading (FPSO) Vessel Tamara Tokoni, was in respect of an application by the First Bank of Nigeria over $225million debt.

According to the court document, the order was based on the suit numbered FHC/PH/CS/02/2025 and between First Bank of Nigeria Limited as Plaintiff and General Hydrocarbons Ltd; the Cargo of Crude Oil on Board FPSO Tamara Tokoni; owners/operators of the FPSO Tamara Tokoni and the master, FPSO Tamara Tokoni as 1st to 4th defendants.

“This is therefore to require and order you forthwith to arrest and detain the cargo of crude oil on board the floating production storage and offloading (fpso) vessel Tamara Tokoni and to keep same under detention until you shall receive further order(s) from the Court,” said the presiding judge, Justice E.A Obile.

READ MORE:  Nigeria Police Arraign Dele Farotimi Over Alleged Defamation of Character

The court order is the latest development in the legal battle between Mr Obaigbena’s oil firm GHL and FBN over credit facilities taken by the oil company which the bank claimed had not been repaid.

According to the financial institution, General Hydrocarbons was indebted to the tune of $225.8 million as of 30 September, 2024.

Meanwhile, Peoples Gazette had reported First Bank filed a debt-recovery suit against Mr Obaigbena and his family members, including Efe Damilola Obaigbena and Olabisi Eka Obaigbena, saying they used their oil servicing firm General Hydrocarbons Limited to assume debt of about $718 million.

While ruling on the suit FHC/L/CS/2378/2024, Justice Deinde Dipeolu of Lagos Division of the Federal High Court ordered banks operating in Nigeria to blacklist Mr Obaigbena and members of his family over alleged debt to First Bank of Nigeria.

The order also particularly sought to prevent Mr Obaigbena from moving any assets linked to him from the jurisdiction of the Federal High Court.

READ MORE:  OMPAN Condems Failed Abduction of Its Chairman Promise Uzoma Okoro in Umuahia by Police Officers from FCID over alleged Defamation

Do you have an information or event for candid reporters to publish or cover? Kindly Call us on 09132987510 or send us message on Whatsapp number 07034623382 or send us an email candidreporters247.com

Disclaimer: Candid Reporters publishes news, information, sports, opinions, and Interviews. The site includes both reported and edited content. Unmoderated posts and Comments expressed here do not reflect the opinions of Candid Reporters or any employee thereof..
BENERAL HYDROCARBONS LIMITED FIRST BANK NDUKA OBAIGBENA
Share. Facebook Twitter LinkedIn WhatsApp Email Telegram Copy Link
Previous ArticleMohbad’s Father Speaks on Life Status Since Demise of Son
Next Article Governor Otti Lays Wreath, Inspects Ongoing Expansion, Reconstruction Projects
Candid Reporters
  • Website

Related Posts

NAPTIP Declares Speed Darlington Wanted Over Rape, Cyberbullying, Cyberstalking

June 27, 2025

Armed Bandits Storm Police Camp In Kebbi, Cart Away Rifles

June 27, 2025

United States Issue Security Alert Advising Citizens On Military, Government Facilities In Nigeria

June 23, 2025
Leave A Reply Cancel Reply

Our Picks
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss
Politics

RAAMP: Abia PDP And The Audacity Of Shamelessness (OPINION)

By Candid ReportersJune 29, 20258 Mins Read

“Nothing in this world is more dangerous than sincere ignorance and conscientious stupidity”. -Martin Luther…

BREAKING: APC National Chairman, Ganduje Resigns

June 27, 2025

NAPTIP Declares Speed Darlington Wanted Over Rape, Cyberbullying, Cyberstalking

June 27, 2025

Armed Bandits Storm Police Camp In Kebbi, Cart Away Rifles

June 27, 2025
About Us
About Us

Candid Reporters is an online Newspaper company that focuses on factual news reportage on entertainment, sports, health, music fashion, E-publishing, etc. We provide the latest breaking news and videos straight from the news and entertainment industry.
candidreporters247@gmail.com

Our Picks
New Comments
    Facebook X (Twitter) YouTube
    • Home
    • Privacy Policy
    © 2025 Candid Reporters. Designed by Barto Creatives.

    Type above and press Enter to search. Press Esc to cancel.

    Ad Blocker Enabled!
    Ad Blocker Enabled!
    Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.