The Federal High Court sitting in Abuja has vacated its earlier ex parte order restraining the Economic and Financial Crimes Commission (EFCC) from freezing the bank accounts of Amaranta Oil and Gas Development Limited (Amaranta) and Jonescreek Hydrocarbons Limited (Jonescreek).
Justice Peter Lifu delivered the ruling on April 15, 2026, according to an enrolled copy of the court order.
The ruling was based on a motion on notice filed by the EFCC, which, among other things, sought an order setting aside and/or discharging the ex parte order made by the court on the 25th day of February 2026, restraining the 1st respondent (EFCC) from freezing and/or investigating the applicant and its bank account(s).
The case was originally instituted by Amaranta and Jonescreek Hydrocarbons against the EFCC and others.
What the court said
The judge took note of the processes filed by the parties in respect of the EFCC’s motion and line of submission.
The judge also acknowledged the affidavit in support of the application, deposed to by Usman Abdulhamid, an officer of the EFCC.
- Justice Lifu ruled that “the ex parte order made by this court on the 25th day of February 2026 in this matter is hereby vacated, rescinded, or set aside.”
The judge also ruled that the case be given an accelerated hearing as required.
Backstory
According to Premium Times, the court had directed the EFCC to refrain from disrupting the operations of Jonescreek Hydrocarbon Limited and from freezing its accounts.
In an order of interim injunction issued by the court on February 25, it similarly forbade the anti-graft agency from applying for interim forfeiture or a Mareva injunction, or from making any effort against the company, until the hearing and determination of its motion on notice for an interlocutory injunction.
The EFCC later filed an application to set aside the interim ruling.
The commission also sought an order striking out the suit for want of jurisdiction and dismissing the suit for being an abuse of court process.
What you should know
The pending litigation borders on the interpretation of the Petroleum Industry Act (PIA) and other finance laws.
Through an originating summons dated February 23, Premium Times reports that Jonescreek Hydrocarbon, for instance, is seeking an order declaring that the EFCC and other defendants, including commercial banks, cannot interfere with its operations or assets, or take any action against its operational funds, in accordance with the provisions of the Petroleum Industry Act (PIA) 2021.
The final verdict of the court will further clarify the limits and authority of the EFCC, companies and commercial banks.
