In a dramatic twist to a high-profile debt case, the Federal High Court in Rivers State has directed the Nigerian Navy to arrest and detain an oil vessel belonging to General Hydrocarbons Limited, a company promoted by Nduka Obaigbena, the Chairman of the ThisDay Editorial Board.
The vessel, identified as the Floating Production Storage and Offloading (FPSO) Tamara Tokoni, was ordered to be seized over a $225 million debt owed to First Bank of Nigeria. According to court documents obtained by Sahara Reporters, the ruling followed an application filed by the bank to recover its debt from the company.
The court order, titled “Warrant of Arrest and Detention of the Cargo of Crude Oil on Board FPSO Tamara Tokoni,” was issued and sealed by Justice E.A. Obile in Suit No. FHC/PH/CS/02/2025. The suit lists First Bank of Nigeria Limited as the plaintiff and names General Hydrocarbons Limited, the crude oil cargo aboard FPSO Tamara Tokoni, the vessel’s operators, and its master as the defendants.
The court document reads:
“To the Admiralty Marshal of the Federal High Court and to all and singular his substitutes: WHEREAS it appears that the cargo of crude oil on board the Floating Production Storage and Offloading (FPSO) Tamara Tokoni currently located in Rivers State or within Nigerian territorial waters is about to leave Nigeria, outside the jurisdiction of this court.
The Plaintiff’s claim, as per the writ of summons being served along with this warrant of arrest, necessitates the immediate detention of the said cargo and vessel. This is, therefore, to require and order you forthwith to arrest and detain the said cargo and vessel, and to keep them under detention until you receive further orders from the court.”
Sources close to the case revealed that security operatives, acting in compliance with the court’s directive, apprehended the vessel in the early hours of Wednesday. Reports indicate that the FPSO Tamara Tokoni has been taken into custody, and measures have been implemented to prevent it from leaving Nigerian waters.
The implications of this case are significant, as it shines a spotlight on the financial dealings of General Hydrocarbons Limited and raises questions about the company’s management of funds. Nduka Obaigbena, a prominent media mogul, is now at the center of this legal storm, with potential reputational and financial fallout on the horizon.
The detention of the FPSO Tamara Tokoni underscores the growing assertiveness of financial institutions in pursuing debt recovery through legal means. The case also highlights the critical role of the judiciary in enforcing accountability within Nigeria’s oil and gas sector, a vital industry for the country’s economy.
As the saga unfolds, the public and industry stakeholders alike will be watching closely to see how this high-stakes legal battle progresses and whether it sets a precedent for similar cases in the future.
This is a developing story. Stay tuned for updates.
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