The Federal High Court in Port Harcourt, Rivers State, has granted a Mareva injunction restraining Fairmont Petroleum Limited from withdrawing, transferring, or dissipating funds in its bank accounts. The court order was made in a suit marked FHC/PH/CS/157/2026, following an ex parte application filed by ThankGod E. Nwugha, counsel to PP Energy Suppliers Limited. The injunction was granted by Justice Phoebe M. Ayua.
According to the court, Fairmont Petroleum allegedly owes PP Energy Suppliers Limited $274,620 and N256,976,600. The outstanding sums represent hire charges for the use of PP Energy's vessel, MV Ocean Lady Tiana, for mooring, pushing, towing marine equipment, and other professional services rendered to Fairmont Petroleum. The services were rendered from 777 Jetty, Port Harcourt, to Fairmont Petroleum's operational base at Cawthorne Channel 1 and Bonny Anchorage.
The motion was brought pursuant to Section 251(1)(g) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended); Sections 2(3)(f) and (1) of the Admiralty Jurisdiction Act; Orders 1 and 21, Rule 9 of the Admiralty Jurisdiction Procedure Rules, 2023; Orders 26, 28, and 30 of the Federal High Court (Civil Procedure) Rules, 2019; and the court's inherent jurisdiction. The court considered an affidavit of urgency and an affidavit in support deposed to by Patrick Otuya, as well as submissions by Nwugha.
Justice Ayua granted the Mareva injunction, issuing several orders. The court restrained Fairmont Petroleum from withdrawing, tampering with, or dissipating funds in its bank accounts up to the value of the alleged indebtedness. The court also restrained Fairmont Petroleum from dealing with, dissipating, transferring, selling, or otherwise tampering with any assets, shares, or funds in any financial institution.
Furthermore, the court directed all commercial banks in Nigeria to disclose, on oath, the balances standing to the credit of Fairmont Petroleum within seven days of being served with the court order. The court also ordered PP Energy Suppliers Limited to serve Fairmont Petroleum with the Summons, Ex Parte Order, Writ of Summons, Motion on Notice, and the Order of Mareva Injunction before the next adjourned date of September 30, 2026.
The court's decision was made to prevent Fairmont Petroleum from dissipating its assets, pending the hearing and determination of the Motion on Notice. The case is set to be heard on September 30, 2026.
The Mareva injunction is a significant development in the dispute between Fairmont Petroleum and PP Energy Suppliers Limited. The court's decision demonstrates the importance of ensuring that parties comply with their financial obligations.
Key points
- A Nigerian court has frozen Fairmont Petroleum's accounts over an alleged debt of $274,620 and N256,976,600 owed to PP Energy Suppliers Limited.
- The court granted a Mareva injunction restraining Fairmont Petroleum from withdrawing, transferring, or dissipating funds in its bank accounts.
- The case is set to be heard on September 30, 2026.
