Court to Rule on Petrocam’s Bid to Unfreeze N9bn Accounts

Justice Chukwujekwu Aneke of the Federal High Court in Lagos will deliver a judgment on April 30, 2026. The ruling follows Petrocam Trading Nigeria Limited’s application to lift an interim order freezing its bank accounts over an alleged N9.05 billion debt. Petrocam’s legal team argues the freeze was granted without full disclosure and has crippled its nationwide operations. The company insists it repaid its 2014 import finance facility in full, supported by transaction records and a bank-issued letter confirming non-indebtedness. Counsel for the bank urges the court to maintain the freeze, warning that lifting it could jeopardise debt recovery. After hearing both sides, Justice Aneke adjourned for the final ruling later this year.

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