Sahara Power Group says recent reports about its power-sector financing disputes misrepresent the facts and should be disregarded while the cases remain before the courts. It states that its entities are compliant, not in receivership, and continue normal operations.
The statement says Federal High Court orders restrain lenders and a purported receiver-manager from adverse actions, and that the Court of Appeal dismissed the lenders’ appeals on 13 April 2026, upheld the restraining orders, and sent the matters back for accelerated hearing.
Our attention has been drawn to recent publications and commentaries regarding the ongoing legal proceedings involving certain power sector financing arrangements and related disputes.
We wish to state, for the record, that these publications are a gross misrepresentation of the facts and a rehash of issues that are already the subject of ongoing judicial proceedings.
Sahara Power Group and its affiliated entities remain compliant with all legal and regulatory requirements and continue to operate in the normal course of business. We affirm unequivocally that the relevant entities and operating companies are neither in receivership nor being managed by any external party whatsoever.
For clarity, the matters in dispute are currently before competent courts, and all parties have submitted to the jurisdiction of the courts for determination. Sahara has consistently relied on the verifiable facts of the matter and has taken all necessary legal steps to protect its interests in accordance with due process.
We reiterate that the Federal High Court in Lagos, in its rulings, expressly restrained the Lenders and their purported Receiver/Manager from taking any adverse actions against the businesses, assets, and undertakings of the affected entities. These orders remain valid, binding, and fully enforceable.
Please see the link to our previous rejoinder on the matter:
Furthermore, following the appeals filed by the syndicate of Lenders against the Federal High Court rulings, the Court of Appeal on 13 April 2026 dismissed all the appeals, affirmed the subsisting restraining orders, and referred the matters back to the Federal High Court for accelerated hearing. This reaffirms the correctness of our position.
Please see link to the judgement below:
JUDGMENT – ECOBANK LTD & ORS V. KEPCO ENERGY RESOURCES NIG LTD.pdf
We also note, in line with our previous statements, that attempts to distort the facts through media publications or other channels do not alter the clear legal position as established by the courts, and such actions should be disregarded.
We therefore urge the public, stakeholders, and the media to disregard speculative or misleading commentary on matters that are sub judice.
Sahara remains resolute and confident in the strength of its position, while maintaining its commitment to responsible operations and value creation within the Nigerian power sector.