By Lucy Ladidi Ateko

Nigerian courts have commenced enforcement proceedings against properties linked to the Chairman of Rahamaniyya Group of Companies, Alhaji Abdulrahman Musa Bashar, in Lagos and Abuja over an approximately $40 million debt dispute involving Petrichor Energy FZCO.

The enforcement action commenced on Wednesday, following orders of the Federal High Court, Lagos Judicial Division, granting Petrichor Energy leave to register and enforce in Nigeria a judgment of the High Court of Justice of England and Wales.

The Federal High Court had, on February 25, 2026, granted the application to register the English judgment for enforcement in Nigeria.

The court subsequently issued writs of attachment and sale dated May 15, 2026, directing enforcement against assets belonging to Bashar and, under a separate writ, Bashar and Ultimate Oil & Gas FZCO.

Court enforcement documents have since been served and posted at properties linked to the respondents in Lagos and Abuja as part of the ongoing enforcement operation.

 

The dispute arose from petroleum product transactions between Petrichor Energy, formerly known as CE Energy DMCC, and Ultimate Oil & Gas between 2022 and 2023.

According to the case materials, Petrichor supplied gasoil and Jet-A1 aviation fuel to Ultimate Oil & Gas, with about $40 million allegedly remaining outstanding.

The dispute subsequently resulted in legal and arbitration proceedings in several jurisdictions.

On February 14, 2025, the Commercial Court of the High Court of Justice of England and Wales delivered judgment in proceedings involving CE Energy DMCC and Bashar, as well as separate proceedings involving Ultimate Oil & Gas DMCC.

The judgment dealt with obligations arising from Bashar’s personal guarantee, alongside principal sums, interest and costs.

The English court also declined to grant a stay of execution.

Further proceedings followed on March 30, 2026, when the English High Court granted a worldwide freezing order against Bashar and Ultimate Oil & Gas.

According to the accompanying case materials, the order covered approximately $40 million in assets identified across Nigeria, the United Arab Emirates, the United Kingdom and France.

The order restricted the defendants from disposing of or dealing with assets within its scope.

The materials also referred to evidence concerning asset sales, alleged defaults under a structured payment arrangement and concerns over the possible dissipation of assets.

A Nigerian property valued at approximately $21.3 million was also identified among assets referred to in the proceedings.

With the English judgment registered in Nigeria and writs of attachment and sale subsequently issued by the Federal High Court, Petrichor Energy commenced enforcement against assets connected to the respondents in Lagos and Abuja on Wednesday.

The writs direct the Sheriff to levy sums due through the attachment and sale of goods and chattels belonging to the respondents, as well as the seizure of specified monetary and financial assets.

The current enforcement action is the latest development in Petrichor Energy’s efforts to recover sums arising from the underlying petroleum product transactions and subsequent court proceedings.