Port Harcourt, Nigeria – The Federal High Court in Port Harcourt, Rivers State, has granted a Mareva injunction freezing the bank accounts and restraining the assets of Kofa Energy Limited and two other oil and gas companies over an alleged outstanding debt of $1.602 million and N1.314 billion.
Justice Stephen Dalyop Pam, who presided over the court, issued the order on Wednesday, September 23, 2026, in a suit marked FHC/PH/CS/163/2026.
The order affects Kofa Energy Limited, Redstar Oil & Gas Limited, and Halkoff Logistics International Limited.
The injunction followed an ex parte application argued by ThankGod Nwugha, counsel to Gimbrowns Marine Security Oil and Gas Limited, the plaintiff/applicant in the suit.
The court restrained the defendants, jointly and severally, from withdrawing, tampering with, or dissipating funds in their respective accounts in any bank or financial institution in Nigeria up to the sum of $1,602,000 and N1,314,470,000.
Justice Pam extended the restraining order to all the defendants’ assets, including movable and immovable property, shares, and funds held in financial institutions, pending the hearing and final determination of the motion on notice.
In a consequential order, the court directed all banks within its jurisdiction to depose on oath the sums standing to the credit of each of the three defendants in their custody.
The banks are required to provide this information within seven days of being served with the court’s order.
While arguing the application, the Plaintiff’s counsel, Mr Nwugha, informed the court that the sums allegedly owed arose from the hire of barges and tugs for the storage and transportation of crude oil totalling 150,000 metric tonnes.
The crude oil was reportedly stored in his client’s barge, MICLYN 301, at Cawthorne Channel 2, OML 18, within Nigerian territorial waters.
In his ruling, Justice Pam stated: “An order of Mareva Injunction is hereby granted restraining the 1st, 2nd and 3rd Defendants jointly and severally from withdrawing, tampering with or otherwise dissipate the funds in their respective bank accounts in any bank or other financial institutions within Nigeria up to the sum of $1,602,000.00 USD and the sum of N1,314,470,000.00 being unpaid sums accruable to the Plaintiff for the hire, professional services and storage of the 150,000 metric tons of crude oil on board the Plaintiff’s Barge MICLYN 301 at Cawthorne Channel 2, OML 18, Port Harcourt Coastal waters within the territorial waters of Nigeria pending the hearing and determination of the motion on notice filed in this suit.”
The case has been adjourned to October 9, 2026, for mention.
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