A Federal High Court, Lagos, on Friday fixed November 23, for resume hearing in a suit filed by the Federal Government of Nigeria, (FGN) against two oil firms, seeking the recovery of approximately $1.8 billion of crude oil lifted by the firms.
The suit was filed by Mr Oladipo Okpeseyi (SAN), on behalf of the Federal Government of Nigeria.
The companies which belongs to Jide Omokore and Kolawole Aluko are: Atlantic Energy Drilling Concepts Nigeria Limited, (AEDC) and Atlantic Energy Brass Development Limited (AEBD), who are respectively Chairman and Director of the two companies.
The case which was earlier slated for today (Friday), was further adjourned to November 23.
In the suit, Omokore, Aluko and their two companies, are said to owe the Federal government, approximately $1.8 billion, for crude oil lifted under a Strategic Alliance Agreements (SAT) between them.
The FG had sometimes in 2016, alongside the Nigerian Petroleum Development Company Ltd (NPDC) and Nigeria National Petroleum Corporation (NNPC), dragged the defendants before the Court.
The plaintiffs had urged the Court to restrain the defendants and their agents, from demanding or receiving payments, from 19 commercial banks in Nigeria, Eight offshore banks, and Eight other companies listed before the Court.
The applicants in an affidavit sworn to by one Mr Kehinde Oginni, averred that Omokore, Aluko and their two companies are indebted to FGN.
He averred that the defendants by virtue of the SAT agreement were granted license to lift crude oil and other associated products in Nigeria for sale and for parties to share the profits in agreed terms.
He averred that the defendants lifted and sold the crude oil and have been paid, but deliberately, refused to pay the Federal Government; but instead, unlawfully diverted the profits share due to the FGN in the sum of $1.8 billion, to their private use.
The deponent listed the diversions as follows: “Several vehicles with combined value of over N800 million were purchased by the defendants and donated to the Peoples Democratic Party (PDP) through its National Chairman, Prince Secondus.
“Additional vehicles valued at over N130 million were purchased by the defendants and distributed to former Minister of Petroleum, Mrs Dieziani Alison-Maduekwe, and some other managerial staff of NPDC,”
He also averred that the sums of $18 million, and N1.1 million were paid to FBN Mortgages Limited by Aluko as part payment for Block A, consisting of 26 Flats at 46 Gerrard Road Ikoyi Lagos purchased at a total cost of N5 billion.
The deponent also stated that payment of a total sum of $25 million, and N95 million were made to Real Bank for the purpose of part financing the acquisition of AEDC and AEBD companies’ property as well as renovation of some properties.
The deponent had consequently urged the Court, to issue a Mareva Order, restraining the defendants from dissipating all known assets directly or indirectly, including but not limited to assets listed on the face of the motion paper before the Court.
After hearing the submission of applicants’ counsel, Justice Oguntoyinbo had issued an order restraining the defendants and their agents from transacting with the assets of the defendants in banks, houses, land and shares in Nigeria and others located outside Nigeria.
The banks were ordered to sequestrate all monies and negotiable instruments standing to the credit of the defendants in the sum of $1.8 billion, and keep same in an interest yielding account, pending the determination of the motion on notice.
The Court had also ordered that the ruling should be served on the affected parties through advertisement in Newspapers circulating within and outside the Federal Republic of Nigeria.
Meanwhile, the defendants had appealed the ruling and filed a motion seeking a stay of proceedings in the suit.
Apart from the pending application for stay, there is also a pending application filed by a Limited Liability Company Virtual Properties and Investment Limited as an intervener.
The intervener is urging the Court to discharge or vary its order, as it relates to Marion Apartments, on the grounds that the property known as Marion Apartments, consists of 56 apartments owned and developed by the intervener.
It added that by virtue of two separate deeds of sublease, the intervener conveyed its interest in 43 out of the 56 apartments to Realblanc Energy Engineering Limited, an affiliate company of the defendants.
The intervener says it still retains ownership of 13 out of the 56 apartments in Marion Apartments.
It avers therefore, that the order of the Court is prejudicial to its interest, and interferes with its right of ownership over the said flats
