Nduka Obaigbena Challenges Freezing Order: A Clear Abuse Of Court Process

Nduka Obaigbena Challenges Freezing Order: A Clear Abuse Of Court Process

First Bank’s recent court order to freeze Nduka Obaigbena’s assets has ignited a heated debate, with his legal team labeling the move as an abuse of court processes. Nduka Obaigbena, the Editor-in-Chief of THISDAY Media Group and Chairman…Nduka Obaigbena Challenges Freezing Order: A Clear Abuse Of Court Process

of ireporteronline, faces challenges as First Bank seeks to restrain all commercial banks from dealing with his $225.8 million in assets.

Lawyers representing General Hydrocarbons, Obaigbena’s company, argue that the court’s interim order issued on December 30, 2024, contradicts a final judgment from December 12, 2024, which explicitly restrained First Bank from enforcing any security or asset-related actions.

“The repeated attempts by FBN to bypass existing court rulings represent a blatant abuse of court processes,” the lawyers stated, emphasizing the legal inconsistencies in the bank’s actions.

Obaigbena’s legal team is calling for a reconsideration of the court’s interim order, highlighting the potential for significant legal and financial repercussions.

This ongoing legal battle continues to spark discussions on the implications for Nigeria’s business and judicial landscapes.

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