Nigeria, July 3 -- The Supreme Court of Nigeria on Friday dismissed a decision of the Court of Appeal ordering the seizure of FPSO Tamara Tokoni, a vessel containing crude oil pledged by oil-servicing firm General Hydrocarbons as collateral for a loan facility obtained from First Bank.

The five-member panel of judges, according to This Day newspaper, directed the release of the content of the vessel to General Hydrocarbons because the lawsuit initiated by the lender is contractual and not an admiralty matter.

In a similar vein, the court held that the Federal High Court and the Court of Appeal lack jurisdiction to hear the suit, given that the litigation is an admiralty dispute.

In September 2025, the Court of Appeal had ordered the sa...