By Henry Ojelu

The Federal High Court in Lagos has suspended the ex parte and interim orders earlier issued on February 13, 2026, appointing an Interim Administrator over Green Energy International Ltd and Lekoil Oil and Gas Investments Limited.

The suspension also affects the Mareva injunctions previously granted against several banks and regulatory institutions, including the Central Bank of Nigeria and the Nigerian Upstream Petroleum Regulatory Commission.

Justice Ambrose Lewis-Allagoa held that the Mareva orders earlier granted in the matter are lifted.

The decision followed arguments by counsel to the parties, particularly the respondents’ legal team led by Bode Olanipekun and Mr. A. A. Malik.

During proceedings, the respondents contended that the court lacked jurisdiction to grant the ex parte orders in view of ongoing arbitral proceedings and the existence of a prior suit filed before the institution of the present action. They also argued that material facts were not disclosed to the court when the interim reliefs were obtained.

Counsel further informed the court that the respondents and certain affected shareholders had filed an application seeking to set aside or vacate the ex parte orders, along with a Notice of Preliminary Objection challenging the court’s jurisdiction.

Following the arguments, Justice Lewis-Allagoa directed all parties to maintain the status quo ante bellum—the position of the respondents prior to the grant of the interim orders—pending the hearing and determination of the pending applications.

The matter was subsequently adjourned to April 22, 2026, for hearing of the pending applications.