Lawyers to the editor-in-chief of ThisDay Media Group and chairman of Arise TV channel, Nduka Obaigbena, have stated that the freezing order obtained by First Bank of Nigeria Limited against his bank accounts is “an abuse of court processes.”

Abiodun Layonu & Co, the solicitors to General Hydrocarbons, a company owned by Mr Obaigbena, made this known in a statement on Thursday, January 9, 2025, titled “To Whom It May Concern”.

Recall that the First Bank had on 30 December 2024 obtained an order from the Federal High Court, Ikoyi, Lagos stopping all commercial banks in Nigeria from releasing or dealing in all monies and assets up to $225.8 million due to Mr Obaigbena from any account maintained by him.

The court also blocked all commercial banks from releasing or dealing in all monies and assets up to the said amount belonging to Efe Damilola Obaigbena, Olabisi Eka Obaigbena and General Hydrocarbons Limited, an oil and gas firm in which all the three are directors and shareholders.

There was another order barring the banks from dealing in or releasing such monies and assets due to the company, its agents, privies, subsidiaries and sister companies with the banks up to the same sum was issued.

But in their reaction Thursday, the solicitors opposed vehemently to this, adding that there are legal defects in the orders granted by the court to the bank.

The lawyers stated: “Kindly note that the Federal High Court, per Allagoa, J had in a final judgment delivered on 12th December 2024 in Suit No. FHC/L/CS/1953/2024 – General Hydrocarbons Limited v. First Bank of Nigeria Limited, unequivocally and emphatically restrained FBN from taking any steps whatsoever to enforce any security, receivables, instrument, finance documents or assets of our client pending the hearing and determination of the ongoing arbitration proceeding between our client and FBN.

“We consider it imperative to draw your attention to the fact that the restraining order of the Federal High Court against FBN in Suit No. FHC/L/CS/1953/2024 emanated from a final judgment of a court of competent jurisdiction which has not been set aside on appeal, and which was delivered prior to the subject of interim order of the Federal High Court which FBN seeks to enforce against our client.”