Fidelity bank banner UBA banner
Judge’s absence stalls FG’s $406.8m suit against Shell

By News Express on 23/10/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 649


A Federal High Court in Lagos on Monday was forced to adjourn continuation of hearing until Nov. 15 in a suit filed by the Federal Government against Shell Western Supply and Trading Ltd over alleged crude oil shipment worth 406.8 million dollars.

The suit, filed by the federal government’s counsel, Prof. Fabian Ajogwu (SAN), has Shell Petroleum Development Company of Nigeria Ltd and its subsidiary — Shell Western Supply & Trading Ltd as defendants.

The News Agency of Nigeria (NAN) reports that continuation of trial was stalled on Monday following the absence of the judge, Justice Mojisola Olatoregun, who was said to be attending a conference in Abuja.

Similarly, a similar case before the same court involving the federal government and Agip which was also scheduled for Monday, was also fixed for Nov. 15 for hearing.

The plaintiff is claiming the sum of 406.8 million dollars from the defendants, representing the shortfall of money paid into the Federal Government’s account with the Central Bank.

The money is for crude oil lifted in 2013 and 2014.

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

It said it was discovered following a forensic analysis of bills of laden and shipping documents, adding that Shell cheated Nigeria of the revenue.

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

It 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.

It also revealed discrepancies in the export records from Nigeria with the import records at U.S. ports.

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

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

The federal 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 per cent 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 instituted against it.

NAN also reports the federal government had also sued Chevron, Total and Agip in a similar case before the court.

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 15 oil majors targeted by the government for the recovery of 17 billion dollars in deprived revenue.

 

Source News Express

Posted 23/10/2017 10:11:13 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
POWA calls for concerted efforts to check drug...

Buhari visits Ghana today over regional security

Panic in Makurdi as suspected herdsmen serve attack...

Independence Day Bombing: Court sentences Charles Okah and...

Empty boast: Donald Trump under fire for failing...

Sokoto thrown into blackout

Police clamps down on area boys in Sokoto,...

Igbo Language Dictionary for launch tomorrow in Owerri...

Okowa tasks National Assembly on passage of PIB...

Business writing for entrepreneurs (Part 4)

Benin Prime Minister concedes defeat after presidential run-off...

Patriotic Christian Youths raise the alarm about plot...

 

Latest News BREAKING NEWS: IPOB Leader Nnamdi Kanu resurfaces How we plan to win 2019 election — Buhari, Atiku NIA places Nigerian agencies on red alert over ‘Chinese drugs containing human flesh’ Trump critic calls for military coup in U.S. Buhari’s in-law, Amosun, Abe lose out as APC submits candidates’ names 2019: Bayelsa group accuses royal father, others of working against PDP •Chides Ex-President Jonathan Ekiti Muslims angry with Governor Fayemi 2019: Parties rush to beat INEC deadline for submission of candidates list Lagos Assembly orders immediate return of PSP, disowns Visionscape NNPC washes hands off Abia pipeline explosion Mentally deranged woman caught with N200,000 PDP demands immediate reconstitution of Osun Governorship Election Tribunal

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (407,534 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (382,832 views) Shameless Genevieve Nnaji exposes breasts in public (315,177 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (257,812 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (237,755 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (224,542 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (204,336 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (185,801 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (170,511 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (166,032 views) Lagos plane crash: Journalist releases victims’ names (161,674 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (149,436 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (67) Business & Economy (3,693) Business Verdict (52) Columnists (948) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (559) Features (660) Global Business Monitor (304) International (2,545) Interview (165) Live Commentary (28) Love Matters (145) News (39,737) Opinion (1,124) Pidgin (13) Politics (7,292) Religion (881) Sports (1,733) Stock Watch (35) AMA & Al Jazeera Global Update

 

NLNG Prize for Literature 2018

Zenith Zero Balance

CBN banner

Firstmobile banner

 

 

 

NEWS EXPRESS TV

LIBYA vs NIGERIA 2-3 Goals Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement