AMNI confirms Federal High Court’s grant of stay of execution in Cenroc matter

AMNI International Petroleum Development Company Limited (“AMNI”) has confirmed that the Federal High Court has granted its application for stay of execution in the matter arising from the Cenroc FPSO Solutions Limited proceedings.

The ruling suspends the effect of the court’s earlier order pending the determination of AMNI’s appeal before the Court of Appeal.

According to the Head, Corporate Communications, Didi Akinyelure: “AMNI has continued to operate in the ordinary course of business throughout these proceedings. There has been no disruption to management, operational control, production activities, or contractual performance.

“The Company reiterates that the matter arises from an ongoing commercial dispute and does not relate to insolvency or inability to meet its financial obligations. AMNI remains financially and operationally sound.”

Akinyelure added that AMNI has already filed its appeal to the Court of Appeal and will pursue resolution of the underlying dispute through the appropriate judicial process, adding that further updates will be provided through official channels as appropriate.