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Court Fixes June 19 For FG’s $406.7m Suit Against Shell
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.
News
Victory Over Insurgency Certain, Tinubu Assures
President Bola Tinubu has expressed confidence that the country would win the fight against insecurity.
The President gave the assurance at the Argungu International Fishing Festival in Argungu town, Kebbi State, on Saturday.
He noted that the relative peace currently being enjoyed in Kebbi and neighbouring states was the result of sustained investments in security intelligence, coordination among security agencies, and community engagement.
Tinubu assured farmers and fishermen of sustained federal support to guarantee food security and safety across the country.
“The peace we are witnessing today is not accidental. It is the outcome of deliberate and sustained efforts. I assure you that the fight against banditry, insurgency, and insecurity will be won.
“Our farmers, fishermen, traders, and families will go about their lawful activities without fear,” he assured.
The President commended the organisers of the festival for sustaining the cultural event for decades, noting that it had endured for 83 years despite social and security challenges.
Describing the Argungu festival as a powerful symbol of unity, resilience, and peaceful coexistence, Tinubu stated that it reflects the richness of the country’s culture and the opportunities to harness its natural and human resources for national growth.
He said, “Today, this festival stands as a powerful symbol of unity, resilience, and peaceful coexistence among our people.
“It reflects the richness of our culture, the strength of our traditions, and the opportunities inherent in harnessing our natural and human resources for national development.”
The President was received by a large crowd of residents, traditional rulers, fishermen, tourists, and government officials from across the country.
The President reaffirmed his administration’s commitment to youth and women empowerment, irrigation development, rural electrification, and agricultural productivity.
Earlier, the Kebbi State Governor, Nasir Idris, said his administration was determined to elevate the Argungu Fishing Festival to full international standards while pursuing aggressive development across critical sectors of the state.
News
US Embassy, Lagos Consulate Close Today For President’s Day
The United States Embassy in Abuja and the Consulate General in Lagos will be closed today, in observance of Presidents’ Day.
The mission made this known in a notice shared on its official X page, yesterday.
“The U.S. Embassy in Abuja and the Consulate General in Lagos will be closed on Monday, February 16, 2026, in observance of Presidents’ Day,” the post read.
According to the embassy, Presidents’ Day was originally established to honour the birthday of the former US President, George Washington, but has evolved into a day to celebrate all U.S. presidents and their leadership in shaping the country’s history.
The embassy noted that the holiday also recognises the influence of U.S. presidents on global affairs.
In a related message, the mission highlighted that Washington created the first “Badge of Military Merit,” which later became the Purple Heart. The medal still bears Washington’s image today.
Presidents’ Day is observed on the third Monday of February annually in the United States as a federal holiday.
News
Guterres Backs Nigeria’s Bid For UN Security Council Seat …Hails Tinubu’s Reforms, Regional Security Role
United Nations Secretary-General, António Guterres, has charged Nigeria with spearheading Africa’s quest for a restructured global order, describing the country as uniquely positioned to lead the continent toward superpower status.
Guterres, who backed Nigeria’s bid for the world body’s security council seat, also praised the economic reforms of the President Bola Tinubu-led administration as well as Nigeria’s leadership in stabilising the Sahel and ECOWAS regions, despite facing its own security challenges.
The UN scribe made the remarks last Friday night during a high-level bilateral meeting with Vice President Kashim Shettima on the sidelines of the 39th African Union (AU) Summit in Addis Ababa, Ethiopia.
Speaking during the meeting, Guterres said Nigeria’s large population, sustained democratic governance, vast natural and human resources, and longstanding commitment to multilateralism placed it in a unique position to lead Africa in the evolving global order.
“Given Nigeria’s demographic strength, democratic continuity and deep resource base, the country stands a real chance of leading Africa to becoming the next superpower in the evolving global architecture,” he said.
The UN Secretary-General and the vice president discussed key developments in Nigeria and the country’s expanding leadership role in promoting regional stability across West Africa and the Sahel.
Guterres commended the remarkable and outstanding reforms of the administration of President Tinubu, noting that Nigeria’s bold economic restructuring and security commitments have strengthened its continental standing.
The meeting focused on strengthening Nigeria–UN collaboration to advance global economic growth, peace and security, sustainable development, and a coordinated humanitarian response across Africa.
In his remarks, Shettima thanked the UN Secretary-General for his leadership in advancing global peace, noting that Africa has benefited immensely from his tenure, even as the United Nations undergoes internal restructuring.
“We remain committed to multilateralism and to deepening our partnerships with the United Nations and other global institutions,” the vice president said.
Shettima also reiterated Nigeria’s longstanding call for comprehensive reform of the United Nations system to reflect evolving global realities.
He emphasised that Africa must have stronger representation in global decision-making structures and declared that Nigeria deserves a permanent seat on the United Nations Security Council.
Both leaders pledged to deepen cooperation, with Guterres reaffirming the UN’s support for Nigeria’s reform agenda and its growing leadership role in advancing peace, security, and development across Africa.
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