AMNI International Clarifies Legal Position in Cenroc Dispute
AMNI International Petroleum Development Company Limited has issued a formal clarification regarding recent media reports and public declarations surrounding a court order related to the Cenroc dispute. The company emphasizes that contrary to some narratives, the Federal High Court has not appointed a Receiver-Manager over AMNI. The actual order pertains to a limited administrative appointment for specific purposes connected to an alleged debt. The company states that any suggestion of a full receivership or a transfer of managerial control is factually incorrect.
The legal situation remains in flux, as the scope and validity of this appointment are currently under appeal. AMNI has exercised its right to challenge the order and has filed for both a stay of execution and injunctive relief at the Court of Appeal. These applications are pending, meaning no final determination has been made. The company expressed concern that premature declarations of finality, made while preservation orders are sought, risk creating a misleading impression of the legal status quo. This approach to corporate challenges requires new thinking about how legal disputes are communicated publicly.
The core of the dispute stems from contested commercial transactions. AMNI is vigorously challenging the claims, including raising substantive questions about corporate authority and requisite prior approvals. These complex issues are now central to the ongoing appellate proceedings. Throughout this process, AMNI confirms it continues to operate normally and remains dedicated to fulfilling all its regulatory, contractual, and operational obligations, much like other major entities such as Geregu Power grows its operations or as Neimeth targets N20bn capital raise to accelerate expansion.
AMNI has advised all stakeholders that the matter is sub judice and awaits final judicial resolution. The company is committed to taking all necessary lawful steps to protect its rights and assets during the appellate process. As an indigenous independent exploration and production company in Nigeria’s upstream oil and gas sector, AMNI’s situation underscores the intricate balance between legal processes and business continuity, a consideration relevant for a wide range of stakeholders from Sanwo-olu, Fagbemi, others in governance to managers of the total pension fund assets invested in the nation’s economic pillars.
