English High Court has put a freeze on the international assets of Nigerian oil dealer Abdulrahman Musa Bashar for failing to clear a $40 million debt and alleged to be moving his money out of reach from his creditors.
On March 30, the injunction applies to Abdulrahman Musa Bashar, who is the chairman of Rahamaniyya Group and his United Arab Emirates company, Ultimate Oil and Gas FZCO. The order will prevent them from disposing of their assets in several jurisdictions such as Nigeria, the UAE, the UK, and France. His known asset value is around $170 million.
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The legal battle started when Petrichor Energy, based in Dubai, delivered oil products to Ultimate Oil and Gas from 2022 to 2023 without full payment. Afterward, in 2024, Bashar agreed to issue a personal guarantee and issued nine checks that were declined by his bank.
In February 2025, the court decided that Bashar and his firm should make the payment, though about $40 million was still due. It was argued that his behavior, such as the sale of assets and failure to reveal certain assets, indicated deliberate efforts to evade payment.
Petrichor is now taking legal action against Bashar and his firm in various jurisdictions, from Nigeria to Dubai, to get its money back. In contrast, Bashar has tried unsuccessfully to remove the asset freeze order.
For more details, visit New Dailyprime
