Supreme court has ordered the release of FPSO Tamara Tokoni crude oil to General Hydrocarbons and dismissed First Bank’s case.
NewsOnline Nigeria reports that the Supreme Court has ordered the immediate release of the crude oil aboard the FPSO Tamara Tokoni to General Hydrocarbons Limited (GHL), bringing a significant legal victory for the indigenous oil firm in its dispute with First Bank of Nigeria (FBN).
In a unanimous judgment delivered on Friday, the apex court directed the Chief Registrar of the Court of Appeal and the Admiralty Marshal to hand over the crude cargo to General Hydrocarbons without delay.
The five-member panel of the Supreme Court also dismissed the suit filed by First Bank, ruling that the dispute was contractual in nature and did not qualify as an admiralty matter within the jurisdiction of the Federal High Court.
The justices held that both the Federal High Court and the Court of Appeal lacked the jurisdiction to entertain the case as an admiralty dispute.
The panel, comprising Justices Uwani Musa Abba Aji, Adamu Jauro, Mohammed Lawal Garba Agim, Tijjani Abubakar, and Habeeb Adewale Abiru, unanimously allowed General Hydrocarbons’ appeal and set aside the earlier judgment of the Court of Appeal.
The ruling effectively overturns the appellate court’s decision in the legal battle over the crude oil cargo aboard the floating production storage and offloading (FPSO) vessel, Tamara Tokoni.
The Supreme Court ordered that the crude oil be released to General Hydrocarbons forthwith and without delay.
More details to follow.
