N9.5bn Dispute: Court Dismisses Petrocam’s Bid to Vary Security Order as Abuse of Process

The Federal High Court in Lagos dismissed an application by Petrocam Trading Nigeria Limited and other defendants to vary an order requiring them to provide a bank guarantee or bond as security for a disputed N9.05 billion claim. Justice Akintayo Aluko ruled that the application constituted an abuse of court process, as it sought to overturn an earlier ruling. The judge stated that the defendants could not use a variation application to revisit a substantive decision. The ruling is part of a dispute over funds allegedly owed to the claimant.

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