No dispute with Heyden Petroleum – AMCON

“Given this latest development, AMCON has formally discontinued its pending litigation against Heyden Petroleum Limited, particularly Suit No. FHC/AMC/67/2024”

The Asset Management Corporation of Nigeria (AMCON) has said that there is no ongoing dispute with Heyden Petroleum Limited.

In a Tuesday statement, the corporation said the clarification follows recent media reports suggesting a contentious legal battle.

In a statement signed by its spokesperson, Jude Nwauzor, AMCON confirmed that the issues between the two parties had been resolved amicably and that Heyden Petroleum had demonstrated a clear commitment to meeting its financial obligations.

According to AMCON, the corporation had previously initiated litigation against Heyden Petroleum via Suit No. FHC/AMC/67/2024. However, with the resolution of all outstanding matters, AMCON has now formally discontinued the lawsuit, acknowledging the company’s efforts to make payments in accordance with the agreed terms.

“We hereby notify the general public that AMCON and Heyden Petroleum Limited have settled all issues between them amicably, and Heyden Petroleum Limited has demonstrated commitment to meeting their obligations and has been making payments accordingly.

“Given this latest development, AMCON has formally discontinued its pending litigation against Heyden Petroleum Limited, particularly Suit No. FHC/AMC/67/2024.

“As a responsible debt recovery agency of the Federal Government of Nigeria, it is not the practice of AMCON to engage in a media trial of obligors who are meeting their obligation,” it read.

AMCON also urged the public to disregard any negative commentaries about the relationship between the two entities.

The corporation reiterated that as long as an obligor is adhering to its financial commitments, there is no need for a public dispute.