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$140m Saga: Court Blocks Shell’s Accounts For Allegedly Diverting 16m Barrels Of Crude Oil

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A Federal High Court in Ikoyi, Lagos has granted a temporary Mareva injunction directing commercial banks to block Shell Petroleum Development Company of Nigeria Limited accounts.

The court ruled in a bid to recover the cash value of more than 16 million barrels of crude oil allegedly diverted by the oil giant from AITEO Eastern E & P Company Ltd.

Justice Oluremi Omowunmi Oguntoyinbo gave the order following an ex parte application in suit no FHC/L/CS/52/202 where AITEO Eastern E & P Company Ltd is the plaintiff/applicants and SPDC Ltd is the first defendant.

THE Royal Dutch Shell Plc, Shell Western Supply and Trading Ltd, Shell International Trading and Shipping Company Ltd, and Shell Nigeria Exploration and Production Company Ltd are second, third, fourth and fifth defendants.

The respondents in the suit were 20 banks which Shell companies operate accounts with.

AITEO’s application was filed by Messrs Kemi Pinheiro (SAN), leading Dr Mike Ozekhome (SAN), Dapo Olanipekun (SAN), and four other Senior Advocates of Nigeria.

Oguntoyinbo, in his ruling said, the banks should, “ring-fence any cash, bonds, deposits, all forms of negotiable instruments to the value of $2.7billion and pay all standing credits to the Shell companies up to the value into an interest yielding account in the name of the Chief Registrar of the court.”

He also ruled that the Chief Registrar is to “hold the funds in trust pending the hearing of the motion and determination of the motion on notice for interlocutory injunction filed before it by AITEO.”

The order followed an application by AITEO Eastern E & P against SPDC and the other defendants with the 20 lenders as respondents.

The court had restrained the defendants or their agents/privies from presenting to the banks “any mandate or instrument for the withdrawal of any money and/or funds standing to the credit of any of the accounts” of the defendants kept/maintained “at any of the named respondent banks… without first preserving/ring-fencing the sum of $1,251,305.5 or its equivalent in any other official currency, including but not limited to the naira and/or pound sterling being the value of the plaintiff’s 1,022,029 barrels of crude oil (at the rate of $79.50 per barrel as stated in the Department of Petroleum Resources (DPR) letter dated 8th day of July, 2020.”

The respondents were further barred from offering any directive or instrument to the named banks for the withdrawal or any money and/or funds standing to the credit of any of the accounts of the five defendants kept or sustained at any of the named respondent banks and/or their branches without first preserving and or ring-fencing the total sum of $2,700,583,779,75 or its equivalent in any other official currency comprising of $799,000,000.00.

The sum is “the amounts claimed to have been paid in this suit by the plaintiff to the five defendants for the acquisition of the Nembe Creek Trunk Line (NCTL) pipelines and the assets; $389,631,877.76 being the total amount claimed in this suit as having been lost by the plaintiff arising from the leakages in the NCTL and the degraded conditions of the NCTL; $578,951,901.99 being the total amount claimed in this suit as having been lost by the plaintiff arising from the crude theft/larceny in the NCTL; $933,000,000 being the total amount claimed in this suit as having being expended by the plaintiff for the repairs of the pipelines and acquisition of the equipment including well-heads, generators, and pumps as well as replacing the flow lines within the NCTL.

“That pending the hearing and determination of the motion on notice for interlocutory injunction, the named banks whether by themselves, director, managers, officers or howsoever are restrained in the interim from accepting, honouring or giving effect in any manner howsoever to any mandate, cheque or instructions presented by all the five defendants whether by themselves or through their agents or privies for the withdrawal of any sum of money and/or funds standing to the credit of all the defendants kept and or maintained at any of the named banks and or their branches without first preserving and or ring-fencing the sums as ordered in prayers 1, 2, 3 and/or 4 above.”

Oguntoyinbo ordered that the respondent banks, “to pay any sums of money standing to the credit of the defendants within 48 hours of the service of the order of this honourable court up to the sum/value of the amounts stated in prayers 1,2,3, and 4 above into an interest yielding account in the name of the Chief Registrar of this honourable court, who is to hold same in trust.

“Pending the hearing and determination of the motion on notice for an interlocutory injunction, the respondent banks are directed to sequestrate and/or ring-fence any cash, bonds, deposits, all forms of negotiable instruments or chose(s) in the action due to or standing to the credit sum/value of the amounts stated in prayer 1, 2 ,3 and/or 4 above.

“That pending the hearing and determination of the motion for an interlocutory injunction, the named banks are directed to file within 48hours of service of the order of this honourable court on them returns of the statement of account of the all the five defendants maintained with them as at the date of the order of this honourable court, such returns to be verified by affidavits”.

When the matter came up, the court was informed that the defendants had filed an application seeking to discharge the order.

The judge adjourned further proceedings till Wednesday, February 24.

 

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Youths Vow To Continue Protest Over Dilapidated Highway

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Youths from five local government areas in Northern Cross River State have concluded a one-week warning protest and blockade of the dilapidated Ikom-Wula-Obudu federal highway over the weekend.
They have vowed to resume the road blocks if by this week the authorities do not intervene to fix the road.
More than five thousand locals, mostly youths from Obanliku, Etung, Obudu, Ikom and Boki LGAs trooped out everyday for one week, used palm trees to block the highway to draw state and federal government’s attention to their plights, requesting the repair of a road has has been unmotorable for about 40 years.
They warned that if they do not see any actions from the state or federal governments, they will resume their Plan B protest, stop revenue collections and make governance unpalatable.
The youths also warned that without interventions on the road which has claimed several lives, including that of last week when a pregnant woman died with her baby in the full glare of the protesters because of the terrible road, no election can hold in the area next year.
One of the leaders of the No Road , No Election protest, who is also the Abo Youths in Boki LGA, Dr Martins Assam said both the federal and state governments have neglected the region, which generates more than 70 percent state revenue from agriculture.
He said if machinery is not deployed by next week, they will not have any option than to embark on unpalatable and disastrous protest, and stop revenue collections in the area.
“Last week we had only a warning strike for one good week. We’ll embark on a more elaborate, disastrous one-month blockade of this highway until they intervene. We call on our Governor and representatives in the National Assembly to act now by impressing on the federal government to immediately fix this road else. We’re not asking for two much but to be treated as human beings.”
Another protester, Clinton Obi from the Etung axis said, “We’ve been neglected for 40 years. This Ikom-Obudu federal highway had been impassable. The government has removed its concentration from our plights. By this one week protest, we want action on this road otherwise the next phase of protest will be costly.”
Reverend Father Francis Amaozo, priest in charge of St. Nicholas parish in Nashua, Boki LGA said, “I have also been a victim of this very deplorable road. Enough is now enough. We’ve been betrayed by our representatives and other leaders, so that we in this axis have become endangered species on this road. I have lost some many members on this road.”
Member, representing the Boki-Ikom federal constituency of the state in the House of Representatives, Bisong Victor Abang had pleaded with the locals to be a bit more patient with the government as action will commence shortly.

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UNIPORT VC Receives Inaugural Lecture Brochure As Professor Highlights Urgent Need For Drug Repurposing In Malaria Fight

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The Vice Chancellor of the University of Port Harcourt (UNIPORT), Prof Owunari Georgewill, last Thursday received the inaugural lecture brochure from the Inaugural Lecturer, Professor Udeme Georgewill, during a ceremony at the university’s Centre of Excellence attended by academics, researchers, students, and distinguished guests.
Delivering her lecture, Professor Udeme Georgewill described the occasion as the culmination of years of dedicated research, teaching, and service to humanity. He explained that his work as a pharmacologist has consistently focused on finding practical, affordable, and scientifically sound solutions to health challenges that disproportionately affect developing countries, particularly malaria, which remains one of Nigeria’s most pressing public health concerns.
She noted that Nigeria continues to bear one of the heaviest malaria burdens globally, accounting for a significant percentage of worldwide cases and deaths. The disease, largely caused by the Plasmodium falciparum parasite and transmitted through Anopheles mosquitoes, remains especially dangerous for children under five years and pregnant women, threatening not only present populations but unborn generations. Despite years of intervention efforts, malaria continues to strain families, health systems, and the national economy.
Prof Georgewill empha-sised that while Artemisinin-based Combination Therapies such as Artemether-Lumefantrine remain the gold standard for malaria treatment, emerging resistance patterns pose a serious challenge. He explained that drug resistance is a survival mechanism of the parasite, enabling it to adapt and reduce the effectiveness of medications designed to eliminate it. According to her, instances where patients do not feel better after initial treatment sometimes lead to repeated dosing or the search for injectable alternatives, practices that can worsen resistance and complicate treatment outcomes.
Against this backdrop, she advocated strongly for drug repurposing as a strategic and urgent response. Drug repurposing, he explained, involves identifying new therapeutic uses for already approved and widely available medications. He likened the concept to “old wine in new wineskins,” stressing that medicines already proven safe for certain conditions can be carefully re-evaluated and optimised for new roles in malaria management. This approach, she argued, offers advantages such as reduced research timelines, lower development costs, and faster clinical application compared to developing entirely new drugs from scratch.
She disclosed that her research had progressed from laboratory investigations to clinical evaluations, where his team is studying combinations involving Artemether-Lumefantrine and Ivermectin to determine their effectiveness in improving treatment outcomes and possibly reducing transmission. Clinical trials are ongoing, and findings will be communicated upon completion of regulatory processes. However, he cautioned strongly against self-medication, warning that misuse of drugs without proper diagnosis and prescription can lead to organ damage, treatment failure, and increased resistance.
Referencing global health commitments, Prof Georgewill highlighted Sustainable Development Goal 3.3, which seeks to end epidemics of malaria and other major infectious diseases by 2030. She questioned whether the goal remains attainable under current realities, especially with growing resistance and funding gaps. He also referred to strategies of the World Health Organisation aimed at drastically reducing malaria incidence and mortality while pushing toward elimination in several countries.
Looking ahead, she revealed that her team is building comprehensive research databases to support artificial intelligence-driven drug repurposing. He stressed that the integration of artificial intelligence, molecular docking, and advanced screening technologies is transforming global drug discovery, and Nigerian researchers must be equipped to participate competitively in this evolving scientific landscape.
In her recommendations, she called for the establishment of a National Centre for Drug Repurposing to coordinate research efforts and leverage artificial intelligence in identifying new indications for existing medicines. He urged policymakers to simplify and accelerate the translation of laboratory discoveries into clinical application, ensuring that scientific breakthroughs benefit the public more efficiently. She also appealed to the university and relevant authorities to increase funding and modernise laboratory infrastructure, including high-throughput screening facilities, to strengthen Nigeria’s position in global biomedical research.
The lecture concluded with expressions of gratitude to God, the university leadership, colleagues, students, and guests, as the event underscored the University of Port Harcourt’s commitment to research excellence and its role in addressing critical public health challenges facing Nigeria and the wider world.

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Niger CAN Rejects Proposed Hisbah Bill, Urges Gov Bago Not To Assent

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The Christian Association of Nigeria, CAN, Niger State Chapter, has rejected the proposed Niger State Hisbah Directorates Bill, describing it as controversial and capable of deepening religious division in the state.
In a statement signed by the State Chairman, Bishop Bulus Dauwa Yohanna, and made available to The Tide’s source yesterday, the association urged Governor Mohammed Umaru Bago not to assent to the bill if it is passed by the State House of Assembly.
The bill, sponsored by the member representing Chanchaga Constituency, Hon. Mohammed Abubakar, seeks to establish a Hisbah Directorate in Niger State.
CAN warned that the legislation could be perceived as discriminatory against Christians and may heighten tension in the religiously diverse state.
“Governor Mohammed Umaru Bago, we, the entire Christendom in the state, wish to draw your attention to what could easily create division among the people you govern,” the statement read in part.
The association questioned the necessity and benefits of the proposed law, asking what economic or social value it would add to the state.
It further argued that existing security agencies, including the Nigeria Police and the Nigeria Security and Civil Defence Corps, already have constitutional mandates to maintain law and order.
The Christian body also faulted the legislative process, disputing claims that it was consulted during a public hearing on the bill.
It insisted that it was neither invited nor notified of any such engagement, despite being a critical stakeholder in the state.

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