A Federal High Court in Port Harcourt restrained the Nigerian National Petroleum Company Limited and all banks in Nigeria from releasing funds to a Chinese company. Justice Stephen Daylyop issued the order on Tuesday over an alleged debt of 117,000 US dollars.
The court acted on an application that sought to protect assets amid a financial claim. It specifically barred payments to Beijing Seajets International Forwarder Company Limited, its directors, shareholders, agents, servants, or privies until the hearing concludes.
Justice Stephen Daylyop delivered the interim order in open court. He directed the Nigerian National Petroleum Company Limited not to release any money owed to the Chinese firm. Additionally, he restrained banks from processing or transferring funds linked to the company.
The ruling came after the applicant presented evidence of potential loss. Transitioning to enforcement, the judge emphasized that the restraint would remain in force until the substantive matter receives full determination.
Counsel for the applicant argued that the Chinese firm attempted to recover the alleged debt through improper means. They presented documents that showed the disputed amount. In response, representatives for the affected parties sought time to file counter arguments.
The court scheduled the next hearing for a date in the coming weeks. It also ordered service of all processes on the Chinese firm through appropriate channels.
The case revolves around claims that Beijing Seajets International Forwarder Company Limited pursued the 117,000 US dollars aggressively. The applicant maintained that NNPC held funds that the Chinese company targeted.
Justice Stephen Daylyop noted the urgency in his ruling. He stated that the order prevented any dissipation of assets before the court resolved the core issues. Nigerian officials monitored the matter closely as it involved national oil company finances.
The development added to ongoing legal tensions between Nigerian entities and foreign firms in the energy sector. Both sides prepared for the full trial as proceedings continued.
