The Federal High Court in Abuja has issued strong cautions to three leading financial institutions, First Bank of Nigeria Limited, Access Bank Plc, and Zenith Bank Plc, warning their Managing Directors that they could face jail time for allegedly failing to obey an existing court order.
The cautions were delivered through multiple Form 48 Notices of Consequences of Disobedience to Court Order, issued in relation to an interim ruling made on November 6, 2025, in Suit No. FHC/ABJ/CS/2369/2025.
The case revolves around a major dispute tied to an onshore oil asset and the FSO Ugo Ocha, connected to stakes in the OML 42 Joint Venture, in which the Federal Government holds a 55 per cent interest.
Form 48 notices dated November 13, 2025, were delivered to the Managing Director of First Bank at the bank’s Marina Headquarters in Lagos and at its main branch in Abuja on Muhammadu Buhari Way.
In the notices, the court reiterated that it had issued a definitive order instructing all sides to maintain the status quo, stressing that any violation could amount to contempt of court.
The warning read: “Unless you stop further disobedience and comply with the direction contained in the order… you will be guilty of contempt of court and will be liable to be committed to prison.”
A copy of the initial directive was attached to emphasise the weight of the instruction.
The order stated: “The ex-parte application for Interim Injunction is hereby refused.
“The Court hereby directs all parties to maintain the status quo as at today, the 6th day of November 2025.
“Parties are ordered not to deal with the subject matter of the litigation pending the hearing and determination of the Motion on Notice for Interlocutory Injunction.
“The Motion on Notice shall be served on the Defendants/Respondents before the next adjourned date.”
The case was filed by Neconde Energy Limited, White Dove Shipping Company Limited, and others against First Bank, Access Bank, and five additional defendants.
The issuance of Form 48 signalled the beginning of contempt proceedings.
The notices, delivered between November 7 and 13, 2025, cautioned that any moves made in disregard of the court’s direction to sustain the status quo would amount to contempt.
The court has scheduled the hearing of the motion for interlocutory injunction for December 4, 2025, and has warned that any defiance of its directive before then will attract serious legal repercussions.
