Federal High Court Issues Jail Warning to First Bank, Access Bank, Zenith MDs

• The Federal High Court in Abuja has issued Form 48 notices to the heads of three major banks, warning they risk imprisonment for allegedly violating an order to maintain the status quo in a dispute involving the FSO Ugo Ocha and onshore oil assets linked to OML 42.

The Federal High Court in Abuja has issued strong warnings to the Managing Directors of First Bank of Nigeria Limited, Access Bank Plc, and Zenith Bank Plc, cautioning that they could face imprisonment for allegedly disobeying a subsisting court order.

The warnings were delivered through multiple Form 48 Notices of Consequences of Disobedience to Court Order, arising from an interim directive issued on November 6, 2025, in Suit No. FHC/ABJ/CS/2369/2025. The case centers on a high-stakes dispute involving an onshore oil asset and the FSO Ugo Ocha, tied to the OML 42 Joint Venture, in which the Federal Government holds a 55% interest.

The Form 48 notices, dated November 13, 2025, were served on the Managing Director of First Bank at both the bank’s Lagos Marina headquarters and its Abuja main office on Muhammadu Buhari Way.

In the notices, the court reminded the banks of its order directing all parties to maintain the status quo, warning that any deviation may amount to contempt.
The notice stated:

“Unless you stop further disobedience and comply with the direction contained in the order… you will be guilty of contempt of court and will be liable to be committed to prison.”

A copy of the original ruling was attached, reaffirming that the court had refused the ex-parte application for an interim injunction but ordered that no party should tamper with the subject of litigation pending the hearing of the motion on notice.

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The suit was filed by Neconde Energy Limited, White Dove Shipping Company Limited, and others, with First Bank, Access Bank, and five additional defendants listed.

The issuance of Form 48 marks the first stage in contempt proceedings. The notices, served between November 7 and 13, emphasized that any action contrary to the court’s directive would constitute contempt.

The court has fixed December 4, 2025, for the hearing of the motion for interlocutory injunction and warned that any breach of its order before then will attract serious legal consequences.