Court says Tunde J. Afolabi’s AMNI not in receivership, fixes ruling date

The Federal High Court in Ikoyi, Lagos, on Tuesday made it clear that AMNI International Petroleum Development Company Limited is not in receivership, as it adjourned proceedings in the company’s dispute with Cenroc FPSO Solutions Nigeria Ltd.

Justice Aneke gave the clarification during proceedings in Suit No. FHC/L/CS/1454/25 after a lawyer representing the court-appointed administrator initially introduced himself as counsel to a receiver or receiver manager. The judge immediately corrected the record, stressing that the court had appointed only an administrator and not a receiver.

The distinction appeared central to the day’s proceedings.

The case came up for hearing on AMNI’s motion seeking a stay of execution of an earlier ruling that appointed the administrator in connection with claims arising from commercial contracts between the two companies.

AMNI’s counsel told the court that the company has already filed a Notice of Appeal challenging that ruling. According to the company, the dispute stems from routine commercial transactions and does not amount to insolvency.

The company further argued that despite being served with both the Notice of Appeal and the stay application, the Administrator had allegedly taken steps to enforce the ruling. Those steps, AMNI claimed, included engaging law enforcement authorities and contacting third parties without going through the court’s bailiffs.

In response, the court cautioned the administrator and his legal team against taking any enforcement or extrajudicial measures while the stay application is still pending. Justice Aneke directed that all parties must strictly comply with the rules of court until a decision is reached.

After hearing both parties out, Justice Aneke fixed February 26, 2026, to deliver a ruling on whether execution of the earlier order should be put on hold.

At the same time, AMNI has moved to file contempt proceedings against the administrator, arguing that some steps were taken despite the court’s caution and while its appeal and stay application are still pending.

The company maintains that no receiver has been appointed, no receivership exists, and that it continues to operate in the ordinary course of business.

When contacted, AMNI’s lawyers declined to comment, citing the fact that the matter is now before the court.