Connect with us

News

Court Fixes June 19 For FG’s $406.7m Suit Against Shell

Published

on

A Federal High Court Lagos, yesterday, adjourned until June 19, hearing in a debt recovery suit filed by the Federal Government, against Shell Western Supply & Trading Ltd, over alleged $406.7million shortfall in crude oil shipment.
The suit numbered FHC/L/CS/336/16, was filed by Federal Government’s counsel, Prof. Fabian Ajogwu, SAN.
It has as defendants, Shell Petroleum Development Company of Nigeria Ltd (SPDC) and its subsidiary, Shell Western Supply & Trading Ltd.
The money was said to be for crude oil lifted in 2013 and 2014.
The suit is pending before Justice Mojisola Olatoregun.
The case was adjourned until June 19, due to the Eid-Il-Fitr celebrations.
The new date has already been communicated to the respective parties.
In the suit, the plaintiff, (FG) is claiming the sum of $406.7million from the defendants, representing the shortfall of money it paid into the Federal Government account with the Central Bank of Nigeria (CBN).
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 that this followed forensic analysis of bills of laden and shipping documents, alleging that Shell cheated Nigeria of deserving revenue.
According to the affidavit, the consortium of experts tracked the global movements of the country’s hydro-carbons, including crude oil and gas.
The plaintiff said that 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 with the import records at United States ports.
The plaintiff averred that the undeclared shipments between January, 2013 and December, 2014 brought the total value of the entire shortfall to $406.75million.
The defendants were alleged to have failed to respond to a Federal Government letter through its legal representative, seeking clarification as to the discrepancies.
The Federal Government is therefore, seeking a court order to compel the two companies to pay $406.7 million, 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 $406.7 million as well as the cost of the legal action.
The Federal Government had also brought similar actions against Chevron and Total.
The Federal Government is asking for a total of $12.7billion over alleged non-declaration of 57 million barrels of crude shipped to the United States between 2011 and 2014.
The oil companies are among 15 oil majors targeted by the government for the recovery of over $17 billion in deprived revenue.

Continue Reading

News

NAFDAC Alerts Nigerians To EU Ban On Dex Soap

Published

on

The National Agency for Food and Drugs Administration and Control, NAFDAC, has alerted Nigerians on the ban on Dex Luxury Bar Soap (No 6 Mystic Flower), by the European Union (EU).
The notification is contained in a public alert with No. 012/2024, signed by NAFDAC Director-General, Prof Mojisola Adeyeye, and issued to newsmen in Abuja yesterday.
“The product does not comply with the cosmetic products regulation; it also contains Butyphenyl Methylpropional (BMHCA), which is prohibited in cosmetic products due to its risk of harming the reproductive system.
“It also causes harm to the health of unborn children and may cause skin sensitisation.
“It is as a result of the defective nature of the product that the EU banned it.
“The products is not in NAFDAC database; importers, distributors, retailers and consumers are to exercise caution and vigilance within the supply chain,” she said.
NAFDAC boss urged marketers and consumers to avoid the importation, distribution, sale and use of the product, stressing that product’s authenticity and physical condition must be carefully checked.
She enjoined members of the public in possession of the product to discontinue sale or use, and submit stock to the nearest NAFDAC office.

Continue Reading

News

Communities, Volunteers Ready To Face Upcoming Floods – Red Cross

Published

on

The Country Manager of the British Red Cross in Nigeria, Karsten Voigt, says communities and volunteers are ready to face the challenges expected with the upcoming floods.
Voigt said this at the sidelines of the 56th Annual General Meeting of the Nigerian Red Cross Society (NRCS), Lagos Branch.
The Tide’s source recalls that the British Red Cross donated resilience items to some communities in December 2023, to help mitigate the effects of flooding.
The items included cash, rain boots, rain coats, mosquito nets, handheld flashlights, solar powered lights with radio, USB chargers and a bridge to link the communities.
The communities that benefited included Agboyi 1, Agboyi 2, Agboyi 3 and Odo Ogun in Kosofe Local Government Area of the state.
Voigt said the Red Cross had measured the impact of the project in the communities and noticed that a lot of progress had been made.
According to him, apart from the cash and items given to the communities, simulation exercises have also been carried out to prepare the volunteers ahead of the floods.
“We have seen that people used the cash to address immediate needs they have after floods.
“Many households have used part of the cash to build up businesses.
“The solutions we have given to them are not only addressing their immediate needs after the disaster but actually building family income for their future,” he said.

Continue Reading

News

Nimet Forecasts Three-Day Sunshine, Thunderstorms

Published

on

The Nigerian Meteorological Agency (NiMet) has predicted sunshine and thunderstorm from Monday to Wednesday across the country.
NiMet’s weather outlook released yesterday in Abuja, forecasts sunny skies on Monday with a few patches of cloud over the northern cities and prospects of thunderstorms over parts of Taraba later in the day.
According to the forecast, sunny skies with patches of clouds are expected over the North Central region with prospects of morning thunderstorm over parts of the Federal Capital Territory, Nasarawa, Kogi and Kwara States.
“Later in the day, isolated thunderstorms are anticipated over parts of the Federal Capital Territory, Kogi and Benue States.
“The southern region is expected to be cloudy with spells of sunshine with prospects of morning thunderstorms over parts of Oyo, Ekiti, Ogun, Ondo and Lagos States.
“ In the afternoon/evening periods, isolated thunderstorms are expected over parts of Enugu, Ebonyi, Abia, Ekiti, Ogun, Imo, Oyo, Ondo, Edo, Cross River, Akwa Ibom, Delta, Rivers, Lagos and Bayelsa States,” it said.
NiMet also anticipated sunny skies on Tuesday with few patches of cloud over the northern states with prospects of isolated thunderstorms envisaged over parts of Bauchi, Gombe, Adamawa, Taraba and Kaduna States during the afternoon and evening hours.
It envisaged the North Central region to be sunny with patches of cloud during the morning hours.
The agency also envisaged isolated thunderstorms over parts of the Federal Capital Territory, Plateau, Nasarawa, Kogi, Benue, Kwara and Niger States, later in the day.
“Cloudy atmosphere with intervals of sunshine is expected over the inland and coastal areas of the South, with chances of morning thunderstorm over parts of Cross River, Bayelsa, Akwa Ibom and Rivers States.
“In the afternoon/evening periods, isolated thunderstorms are anticipated over parts of Osun, Ekiti, Ondo, Imo, Anambra, Enugu, Abia, Oyo, Edo, Delta, Cross River, Akwa Ibom, Lagos, Rivers and Bayelsa States ,” it said.
It predicted a sunny atmosphere on Wednesday, with patches of cloud over the northern region, during the forecast period.
“Sunny skies with patches of clouds are expected over the North Central region with chances of isolated thunderstorms over parts of Plateau, Kogi, Nasarawa, the Federal Capital Territory and Benue States, during the afternoon/evening periods.
“ Cloudy atmosphere with intervals of sunshine is expected over the inland and coastal areas of the South with prospects of thunderstorms over parts of Anambra, Imo, Enugu, Ebonyi and Abia.”
Other states to experience cloudy atmosphere, are “Edo, Ondo, Ekiti, Ogun, Oyo, Cross River, Lagos, Akwa Ibom, Rivers, Delta and Bayelsa States, later in the day.”
NiMet urged the public to take adequate precaution as strong winds might precede rains in areas where thunderstorms were likely to occur.
The agency also urged airline operators to get updated weather reports and forecasts from its office for effective planning in their operations.

Continue Reading

Trending