S’Court Dismisses FBN’s Case, Orders Immediate Transfer of Crude Oil from FPSO Tamara Tokoni to GHL

The Supreme Court on Friday ordered the Chief Registrar of the Court of Appeal and the Admiralty Marshal to immediately hand over the crude oil aboard the FPSO Tamara Tokoni to General Hydrocarbons Limited (GHL).

‎The development has put to rest the legal dispute over the asset.

In a unanimous judgment delivered on Friday, the apex court also dismissed the case instituted by First Bank of Nigeria (FBN), holding that the dispute was contractual in nature and did not fall within the jurisdiction of the Federal High Court as an admiralty matter.

The five-member panel of the Supreme Court consequently allowed General Hydrocarbons’ appeal and set aside the judgment of the Court of Appeal.

The justices held that the lower courts lacked jurisdiction to entertain the matter as an admiralty case.

The panel comprised Justices Uwani Musa Abba Aji, Adamu Jauro Salawa, Justice Emmanuel A. Agim, Tijjani Abubakar and Habeeb Adewale Abiru, who read the lead judgment.

Advertisement

‎The court further urged that the crude oil aboard the FPSO Tamara Tokoni be released to General Hydrocarbons forthwith and without delay.