Supreme Court Orders Release of FPSO Tamara Tokoni Crude to General Hydrocarbons

The Supreme Court has ordered the immediate handover of the crude oil aboard the Floating Production Storage and Offloading (FPSO) vessel Tamara Tokoni to General Hydrocarbons Limited (GHL), effectively ending the legal dispute over the asset.

In a unanimous judgment delivered on Friday by a five-member panel of justices, the apex court directed the Chief Registrar of the Court of Appeal and the Admiralty Marshal to release the crude cargo to General Hydrocarbons without delay.

The court held that the suit filed by First Bank of Nigeria (FBN) arose from a contractual dispute and did not fall within the scope of admiralty jurisdiction.

On that basis, the Supreme Court ruled that both the Federal High Court and the Court of Appeal lacked the jurisdiction to entertain the matter.

The apex court subsequently upheld the appeal filed by General Hydrocarbons Limited and set aside the earlier judgment of the Court of Appeal, describing the decision as perverse.

Justice Abiru, who delivered the lead judgment, announced the unanimous decision of the panel, which comprised Justices Uwani Aba-Aji, Salawa, Agim, Uwa and Abiru.

The ruling effectively settles the ownership dispute over the crude oil aboard the FPSO Tamara Tokoni in favour of General Hydrocarbons Limited.