Enforcement proceedings have commenced against assets linked to Chairman of Rahamaniyya Group of Companies, Abdulrahman Musa Bashar, in Lagos and Abuja, over an approximately $40 million debt arising from the supply of gasoil and Jet-A1 aviation fuel. Petrichor Energy FZCO supplied the fuel to Ultimate Oil & Gas between 2022 and 2023, leaving about $40 million outstanding.
The enforcement action commenced following orders of the Federal High Court, Lagos Judicial Division, recognising and registering a judgment of the High Court of Justice of England and Wales for enforcement in Nigeria. The Federal High Court granted Petrichor leave to register the English judgment on February 25, 2026, while writs of attachment and sale were issued on May 15 against assets belonging to Bashar and Ultimate Oil & Gas FZCO.
The dispute escalated after the English High Court granted a worldwide freezing order against Bashar and Ultimate Oil & Gas on March 30, 2026. The order restricted the defendants from disposing of or dealing with assets across Nigeria, the United Arab Emirates, the United Kingdom, and France. A Nigerian property valued at approximately $21.3 million was among the assets identified in the proceedings.
The English court delivered judgment in proceedings involving CE Energy DMCC and Bashar on February 14, 2025. The judgment addressed obligations arising from Bashar's personal guarantee, principal sums, interest, and costs. The court also declined to grant a stay of execution.
Petrichor Energy's efforts to recover the sums arising from the gas oil and Jet-A1 supply transactions have led to the current enforcement action in Nigeria. The enforcement operation is being carried out across Lagos and Abuja, with court enforcement documents served and posted at properties connected to the respondents.
The dispute remains before the Dubai International Financial Centre Courts under CFI 118/2025, where Petrichor is seeking recognition and enforcement of the English judgments. The DIFC Court allowed the immediate-judgment application to proceed after rejecting the defendants' application for a stay; permission to appeal that decision was subsequently granted.
On January 30, 2026, Bashar was sentenced to one year in prison by a Dubai criminal court over financial misconduct involving dishonoured cheques totalling AED126.45 million. With the English judgment now registered in Nigeria and writs of attachment and sale issued by the Federal High Court, Petrichor has moved to enforce the judgment against the respondents' assets.
Key points
- The enforcement proceedings are over a $40 million debt arising from the supply of gasoil and Jet-A1 aviation fuel by Petrichor Energy FZCO to Ultimate Oil & Gas.
- The Federal High Court recognised and registered a judgment of the High Court of Justice of England and Wales for enforcement in Nigeria.
- A Nigerian property valued at approximately $21.3 million was among the assets identified in the proceedings.
