Court Freezes NNPC Funds Over $117,000 Debt Dispute

On June 1, 2026, Justice Stephen Daylyop of the Federal High Court in Port Harcourt, Rivers State, issued a temporary injunction restraining the Nigerian National Petroleum Corporation (NNPC) Ltd and banks from releasing funds to Beij Seajet International Forwarding Company Ltd. This order was made pending the determination of a suit concerning an alleged debt of $117,000.

The plaintiff, Wellman Group Ltd, represented by counsel M.K. Chinda and Thankgod Nwugha, claims that Beij Seajet failed to pay for the hire of a tugboat used for transporting and storing heavy cargo, including a 340-ton gas turbine and a 300-ton generator, between December 8, 2025, and January 27, 2026.

The court's order specifically prohibits Beij Seajet and its directors from withdrawing or dissipating funds held in Nigerian financial institutions until the matter is resolved. The court has directed that the sum due be held in custody within seven days of serving the order.