GTB 737 banner Yudala banner

FG to amend claims in $406.8m suit against Shell

By News Express on 21/03/2017

Share on facebook Yahoo mail icon Gmail icon

Views: 245

Federal High Court, Lagos
Federal High Court, Lagos

A Federal High Court in Lagos on Monday granted leave to the Federal Government to amend its statement of claims in a suit filed against Shell Western Supply and Trading Ltd over crude oil shipment resulting in revenue loss of about 406.8 million dollars.

The suit No. FHC/L/CS/336/16, was filed by FG’s counsel, Prof. Fabian Ajogwu (SAN), and is pending before Justice Mojisola Olatoregun.

It has as defendants, Shell Petroleum Development Company of Nig. Ltd and its subsidiary - Shell Western Supply and Trading Ltd.

When the suit was mentioned on Monday, counsel for the plaintiff, Mr Ituah Imhanze, informed the court of an application to amend the plaintiff’s statement of claims.

He urged the court to grant his application and allow the plaintiff leave to “tidy up” its pleadings. The Defence counsel, however, did not oppose the application for amendment.

In a short ruling, Justice Olatoregun granted the application but noted that besides applications for amendment of processes, there had been no remarkable progress in the suit since it was filed.

She, however, adjourned the case until May 31 and June 1 for hearing and directed that the plaintiff should ensure that the amended processes were served on the defence.

The plaintiff is claiming 406.8 million dollars from the defendants, being the shortfall of money paid into the Federal Government’s account with the Central Bank of Nigeria (CBN). The money was said to be for crude oil lifted in 2013 and 2014.

In a supporting affidavit, the FG had accused the Anglo-Dutch company of not declaring or under-declaring crude oil shipments during the period.

It said the discovery followed a forensic analysis of bills of laden and shipping documents, adding that Shell cheated Nigeria of the huge revenue.

According to the affidavit, the consortium of experts tracked the global movements of the country’s hydrocarbons, including crude oil and gas.

They identified the companies engaged in the practices that led to missing revenues from crude oil and gas export sales to different parts of the world.

They also revealed discrepancies in the export records from Nigeria and the import records at U.S. ports.

The Federal Government averred that the undeclared shipments between January 2013 and December 2014 brought the total value of the entire revenue shortfall to 406.75 million dollars.

The defendants were said to have failed to respond to a government letter through its legal representative, seeking clarification as to the discrepancies.

The government is, therefore, seeking a court order to compel the two companies to pay 406.8 million dollars, being the total value of the missing revenue and interest payment at 21 percent per annum.

In addition, the government is also asking Shell to pay general exemplary damages in the sum of 406.75 million dollars as well as the cost of the legal action.

The News Agency of Nigeria (NAN) reports that the government had also sued Chevron, Total and Agip in a similar case before the court.

The FG is asking for a total of 12.7 billion dollars over alleged non-declaration of 57 million barrels of crude shipped to the U.S. between 2011 and 2014.

The oil companies are among the 15 oil majors targeted by the government for the recovery of 17 billion dollars in deprived revenue. (NAN)

Source News Express

Posted 21/03/2017 12:22:07 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
As America and the world wait for Trump...

Chimamanda Adichie launches “Wear Nigerian” project

Nigerian Army clears the air on palaver with...

Senate to pass law establishing Intelligence Unit, calls...

Meningitis kills 8 in Kaduna

Moji Olaiya’s death, a rude shock — Minister...

Confirmed guber results: Amosun declared winner; Ugwuanyi, Tambuwal,...

Lagos Govt. reiterates readiness to encourage women in...

Ambode proposes new tax collection strategy

Bomb blast: Police tighten security in FCT

Democracy Day: Okowa hails Deltans, promises better deal...

Gunmen abduct Bayelsa Commissioner

 

Latest News Ideology of Exponential Growth Devours, Corrupts: Growth as god in Silicon Valley (2) NiMet chief says floods may hurt cocoa, favor rice Dufil plans debt issue to raise additional $131 million Why 2017 Hajj fare is high: NAHCON OPEC moves to cap Nigerian oil output, boost compliance Police sack 3 officers for corruption Official Results: APC sweeps all chairmanship seats in Lagos LG polls Controversial book Nelson Mandela’s last day withdrawn following widow’s outrage Lai Mohammed mourns Adebayo Faleti, calls him a colossus in his time Nigerian academic ambassador Ademola Oluwaranti wins British excellence award We’re drinking our oil and eating our children’s future Power play in Aso Rock: Osinbajo vs Buhari’s men •Vital documents kept away from Osinbajo — Presidency source

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (266,549 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (247,398 views) Shameless Genevieve Nnaji exposes breasts in public (201,559 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (172,557 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (169,377 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (151,166 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (130,817 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (123,535 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (115,317 views) Lagos plane crash: Journalist releases victims’ names (107,417 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (107,095 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (99,713 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (27) Business (2,639) Business Verdict (18) Columnists (715) Complaints & Requests (92) Enterprise & Opportunities (166) Entertainment (345) Features (470) Global Business Monitor (163) International (1,462) Interviews (126) Live Commentary (28) Love Matters (64) News (26,744) Opinion (758) Pidgin (8) Politics (3,819) Religion (581) Sports (1,287) Stock Watch (20) AMA & Al Jazeera Global Update

 

CBN words on marble advert

 

 

Senator Adeleke on the dancing steps in London

 

APO Newsbreak logo

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!