The Supreme Court on Friday morning 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), bringing to an end a legal dispute over the asset.
In a unanimous judgment delivered by a five-member panel of justices, the apex court held that the suit instituted by First Bank of Nigeria (FBN) was contractual in nature and not an admiralty matter.
The court consequently ruled that both the Federal High Court and the Court of Appeal lacked the jurisdiction to entertain the case.
The Supreme Court accordingly allowed the appeal filed by General Hydrocarbons Limited and set aside the judgment of the Court of Appeal, describing it as perverse.
Justice Habeeb Adewale Abiru, who read the lead judgment, announced the unanimous decision of the panel comprising Justices Uwani Musa Abba Aji, Adamu Jauro Salawa, Justice Emmanuel A. Agim and Tijjani Abubakar
Supreme Court on Friday delivered a unanimous judgment directing the immediate release of the crude oil aboard the FPSO Tamara Tokoni to General Hydrocarbons Limited (GHL), effectively bringing to a close the protracted legal dispute involving the company and First Bank of Nigeria over the offshore crude oil asset.
In the landmark ruling delivered by a five-member panel of justices, the apex court held that the dispute instituted by First Bank of Nigeria was contractual in nature and therefore did not fall within the ambit of admiralty jurisdiction.
The court ruled that both the Federal High Court and the Court of Appeal lacked the jurisdiction to hear and determine the matter, making all proceedings and decisions arising from the case legally unsustainable.
Consequently, the Supreme Court allowed the appeal filed by General Hydrocarbons Limited and set aside the judgment of the Court of Appeal, describing the lower court’s decision as “perverse.”
As part of its orders, the apex court directed 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 in full compliance with its judgment.
The lead judgment was delivered by Justice Habib Abiru on behalf of the five-member panel comprising Justice Uwani Musa Abba Aji, Justice Helen Moronkeji Ogunwumiju Salawa, Justice Emmanuel Agim and Justice Abiru, with all members concurring in the decision.
The judgment represents the final determination of the dispute by Nigeria’s highest court and settles the legal contest over the ownership and control of the crude oil aboard the FPSO Tamara Tokoni.
