Fidelity bank banner NewsExpress advert
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 Share on Google+

Views: 581

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 Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Kaymu launches Buy Nigeria Project at Lagos International...

Supreme Court reverses dissolution of Ekiti LG Caretaker...

Borno Governor redeploys 41 permanent secretaries

Dickson orders suspension on sale of Bayelsa properties...

Trouble for new US President Donald Trump

FG announces recovery of another US$151m and N8b...

BREAKING NEWS: MMM freezes accounts of Nigerian participants...

‘WE’VE BURIED PDP’: G7 GOVERNORS, New PDP dump...

Experts write off Buhari’s anti-corruption war, say it...

2 street traders remanded in prison for allegedly...

Forex restriction on 41 items yielding results, says...

Baga tragedy: Aso Rock has abandoned us —Borno...

 

Latest News Islamic State terrorists sneaking into Nigeria: Report 1,500 Nigerians jailed in Italy Cholera kills 19 in Niger, 65 hospitalised Shell tasks contractors over safety, rewards champions Wike swears in 23 new council chairmen How Nigerian advertisers waste billions of naira on celebrity endorsements — Study Saraki leads Senate delegation on visit to Russian Parliament 2019: Ekweremadu alleges APC onslaught against PDP leaders Atiku, Tinubu meet at Akure Airport •Atiku visits Fayose, canvasses support for PDP candidate as nationwide consultations gather speed NSCDC declares war against pipeline vandals FG plans artificial insemination of cows for quality milk production World Cup 2018: England beat Tunisia 2-1

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (351,794 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (350,930 views) Shameless Genevieve Nnaji exposes breasts in public (279,761 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (229,711 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (208,813 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (208,342 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (181,487 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (163,567 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (153,676 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (148,288 views) Lagos plane crash: Journalist releases victims’ names (143,613 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (135,471 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (50) Business & Economy (3,246) Business Verdict (44) Columnists (868) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (504) Features (606) Global Business Monitor (282) International (2,035) Interview (153) Live Commentary (28) Love Matters (123) News (36,295) Opinion (1,003) Pidgin (10) Politics (5,278) Religion (770) Sports (1,550) Stock Watch (30) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Portugal v Spain 2018

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement