Zenon Petroleum & Gas Limited has vehemently refuted claims circulating in the media regarding the alleged seizure of its Victoria Island property due to a purported N7.2 billion judgment debt. The company, through its legal counsel, Paschal Chimezie, has categorically denied these reports, labeling them as “mischievous and misleading.” Zenon clarifies that the legal dispute revolves around an agency fee related to an aircraft acquisition that was ultimately taken over by the Asset Management Corporation of Nigeria (AMCON). The company asserts that the Court of Appeal’s role is to determine the question of liability and the validity of an ex parte interim attachment order against a property that Zenon insists is not under its ownership, but belongs to a third party.
The core of Zenon’s rebuttal centers on the assertion that its Victoria Island headquarters was never seized by any Court of Appeal order. The company alleges that the dissemination of these misleading reports is a calculated attempt to extort money from Mr. Otedola, a key figure associated with Zenon, and to tarnish his reputation through blackmail, pressuring him to settle a matter that is currently subjudice. Zenon emphasizes that the legal proceedings are ongoing, and any attempts to influence the outcome through media pressure are inappropriate and potentially prejudicial.
Contrary to Zenon’s statement, earlier reports indicated that the Lagos Division of the Court of Appeal had indeed issued an interim order of attachment on June 26, 2025, targeting Zenon Petroleum and Gas Limited’s property located at 7, Tiamiyu Savage Street, Victoria Island, Lagos. This order stemmed from a legal dispute involving a N7.2 billion debt allegedly owed to British national, James Lloyd-Jennings. The Court order, based on a motion ex-parte and supporting affidavit, granted the interim attachment pending the determination of a motion on notice scheduled for July 8, 2025. The order also stipulated that both Zenon and a second respondent be duly served before the hearing date.
James Lloyd-Jennings, the claimant in this legal battle, issued a statement asserting that the Court of Appeal’s order restricted Zenon and the general public from engaging in any transactions related to the property until the motion on notice, seeking similar restraining orders, could be heard. Lloyd-Jennings’ statement emphasized the potential consequences of non-compliance with the court’s order. This presents a direct contradiction to Zenon’s claim that no such order exists or that the property in question doesn’t belong to them.
The conflicting narratives presented by Zenon and Lloyd-Jennings create a complex legal scenario. Zenon vehemently denies ownership of the property and dismisses the reports of seizure as a smear campaign. Conversely, Lloyd-Jennings maintains that the Court of Appeal has indeed issued an order of attachment against Zenon’s property, restricting any dealings with it. This discrepancy raises crucial questions about the true ownership of the property and the validity of the reported court order. The ultimate resolution will likely hinge on the Court of Appeal’s decision on the motion on notice, which will address the issue of the property’s ownership and the legitimacy of the interim attachment order.
The ongoing legal dispute between Zenon Petroleum & Gas Limited and James Lloyd-Jennings highlights the complexities of legal proceedings and the potential for conflicting interpretations of events. The contrasting statements issued by both parties underscore the importance of relying on verified court documents and official pronouncements rather than media reports, which can be subject to bias or misinformation. The final determination of the matter rests with the Court of Appeal, which will adjudicate based on the presented evidence and legal arguments. Until then, the conflicting claims and accusations surrounding the alleged seizure of the Victoria Island property remain a point of contention.
