Court seals Bashar's Lagos, Abuja assets over $40m debt from Petrichor
Court seals Bashar's Lagos, Abuja properties over $40m debt from Petrichor Energy. The Federal High Court in Lagos granted Petrichor Energy FZCO leave on February 25, 2026 to register and enforce a judgment of the High Court of Justice of England and Wales. Writs of attachment and sale were issued on May 15, 2026 against assets of Alhaji Abdulrahman Musa Bashar, Chairman of the Rahamaniyya Group, and Ultimate Oil & Gas FZCO. Enforcement began on Wednesday, September 23, 2026, with officials sealing properties linked to Bashar in both Lagos and Abuja.
The debt stems from petroleum product transactions between 2022 and 2023 when Petrichor Energy (formerly CE Energy DMCC) supplied gasoil and Jet-A1 aviation fuel to Ultimate Oil & Gas. An English Commercial Court judgment on February 14, 2025 found Bashar personally liable for about $40 million, including principal, interest and costs. A worldwide freezing order followed on March 30, 2026.
This matters because it shows Nigerian courts actively enforcing foreign judgments, affecting confidence in cross-border trade and highlighting risks for companies with international dealings. It also signals that assets in Nigeria can be seized to satisfy overseas debts, which may impact fuel supply chains and linked businesses.
If you engage in cross-border contracts, verify jurisdiction clauses, keep thorough records, and consider asset protection strategies. Stay updated on any further court orders that could affect your partners or suppliers.