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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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Anglican Bishop Urges Politicians To Lead With Integrity

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The Bishop of Anglican Diocese of Niger Delta, Dr Emmanuel Oko-Jaja, has called on Nigerians, especially those in positions of authority to uphold moral standard and integrity.
Oko-Jaja said this at a thanksgiving service to mark the 90th birthday of Prof. Sylvanus Cookey at Saint Paul Anglican Church in Opobo Town, Rivers yesterday.
The Tide’s source reports that Cookey was the second Vice Chancellor of the University of Port Harcourt (UNIPORT) in 1982.
Oko-Jaja advised political leaders to always be self-aware and avoid actions that could damage their reputation.
“In today’s Nigeria, hardship has changed how the people behave, as lies have become more popular than the truth.
“We now live in a country where injustice is now celebrated and lowering moral and social standard have become the new normal.
“Leaders must follow the exemplary legacies set by our forebears by becoming upright and live a life that would not bring shame to their family and community,” he said.
He attributed the country’s current economic challenges and declining living standards to leaders failing to prioritise the well-being of citizens.
“The younger generation should emulate the virtues of our predecessors like Prof. Cookey, who prioritised integrity over material gain.
“Good reputation was the norm back then, and I hope that God will restore it to Nigeria, where leaders’ goal will be to have good names.
“If anyone wants to commit evil, they should remember that their actions can bring a bad name to their family and community,” he cautioned.
Addressing the celebrant, the King of Opobo Kingdom, HRM Dandason Jaja, praised Cookey for his impact on society and described him as a mentor and philanthropist.
He said that the celebrant was a distinguished academic, who had impacted numerous youths through vocational training, leading to their successful employment in different sectors.
Speaking earlier, Cookey expressed gratitude to God for attaining 90 years and acknowledged the support of his family and friends.
Reflecting on his contributions to the country, he encouraged leaders to leave behind positive legacies for future generations to celebrate.

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Senators, Reps To Resume Plenary In Remodelled Main Chambers

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Nineteen months after federal lawmakers movement to  temporary chambers,  the Nigerian Senate and House of Representatives would finally resume sittings in  their  newly remodelled main hallowed chambers tomorrow
Spokesperson of the House of Representatives, Hon. Akin Rotimi Jnr, and the Clerk to the Senate, Barrister Chinedu Akubueze confirmed the planned movement to the main chambers in separate written announcements made penultimate week on the change in resumption date by lawmakers from their ongoing recess.
Hon. Rotimi, who is the chairman, House Committee on Media and Public Affairs, in the official announcement dated April 4, 2024 to the honourable members, cited the need to resume plenary at the renovated and reconfigured main chamber, as reason for the postponement in line with the general wish of the lawmakers.
“The House of Representatives wishes to inform the public and stakeholders of the rescheduling of the resumption date from the ongoing recess, originally slated for Tuesday, April 16, 2024, to  Tuesday, April 23, 2024.
“This adjustment is necessary to accommodate the completion of renovations to the main chamber of the House of Representatives to ensure its readiness for plenary sessions, henceforth,” he stated.
Two days after, the Clerk to the Senate also issued a statement, postponing resumption of plenary by the Senate from April 16 to 23, 2024.
Akubueze ‘s statement reads in part: “Distinguished Senators are hereby invited to note that the resumption of the plenary sitting of the Senate, which was scheduled for Tuesday, 16th April, 2024, has been postponed to Tuesday 23rd April, 2024”
It would be recalled that ahead of the projects delivery, the Site Engineer of Visible Construction, Tajudeen Olanipekun, had early last month informed journalists covering the Senate, that the two main chambers, would be ready for use by both the Senate and the House of Representatives in April this year.
Olanipekun’s assurance on delivery of the fully transformed and reconfigured hallowed chambers to management of the National Assembly, coincided with call by the President of the Senate, Godswill Akpabio, to the Clerk to the National Assembly, CNA, Alhaji Sani Magaji Tambawal that both the Senate and the House of Representatives, want to move to their main chambers as soon as possible after close to two years of using temporary ones.
In carrying out the subtle marching order, the construction firm in the last five weeks has carried out the required finishings on
the upgraded and reconfigured hallowed chambers fixed with state-of-the-art chairs, parliamentary equipments,  appliances and extended sitting terraces.
Physically, the entire ambience of the space in and around the hallowed chambers have been transformed, just as barricades used to restrict movements at the foyer have been removed.
The  Federal Capital Development Authority, FCDA, had in March 2021 awarded a N30billion renovation contract to Visible Construction Limited to rehabilitate critical segments of the National Assembly complex.
The law makers had in September  2022 vacated the main chambers to enable the Contractors;   handle the renovation work of both chambers
Some of the critical segments are the office buildings housing the office accommodation for the senators and honourable members, watertightness of the roof of the complex, the cooling system, replacement of lifts that are inoperable in the White House as well as in the House of Representatives and in the new Senate Wing among others.

By: Nneka Amaechi-Nnadi, Abuja

 

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Police Commence Recruitment Process In Anambra, Enugu

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The Zone 13 of the Nige- rian Police Force, comprising Anambra and Enugu States, has announced the venue and time for both General Duty and Specialist Constable recruitment medical screening in the two States.
This is contained in a statement issued yesterday by the Zonal Police Public Relations Officer, SP Josephine Ihunwo, yesterday in Enugu.
Ihunwo said that prospective candidates from Zone 13 should note that the exercise would take place at Police Hospital, Awka.
She said that the medical screening would commence simultaneously nationwide on Tuesday, April 16, and end on April 30, 2024.
“Candidates are advised to visit the recruitment portal: https://apply.policerecruitment.gov.ng to know their status, specific time, date and other mandatory requirements.
“So also, qualified applicants are to appear in clean white T-shirt and short with the following requirements;
“National Identity Card/Slip; Print Out of Medical Examination Slip and all necessary documents.
“The Assistant Inspector-General of Police Zone 13 Command, AIG Godwin Aghaulor, wishes all prospective candidates success as they embark on this exercise,” he said.

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