Legal & Regulatory

Nigerian villagers lose lawsuit against an oil giant

Oct 19, 2013

In a stunning and dramatic legal ruling that echoed from the serene court chambers in the Netherlands to the heart of rural Niger Delta in Nigeria, the District Court of The Hague dismissed all but one of the lawsuits brought against Royal Dutch Shell, an Anglo-Dutch oil and gas company, by a group of farmers…

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Subsidy fraud: EFCC insists oil marketer, Jubril, did not import fuel

Oct 18, 2013

The Economic and Financial Crimes Commission (EFCC) yesterday claimed that an oil marketer, Rowaye Jubril, did not import the petroleum products for which he received N963.7 million subsidy. The EFCC made the allegation through one of its officers, Mrs Tolulola Olanubi, at the resumed trial of Jubril before an Ikeja High Court. Jubril is being…

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Court assumes jurisdiction to hear N5bn suit against Total

Oct 17, 2013

The National Industrial Court, (NIC) has dismissed a preliminary objection filed by oil company, Total E&P Nigeria Limited (TEPNG) challenging the jurisdiction of the court to hear a N5 billion suit instituted against it by a former staff member, Aralu Steve. Ruling on a preliminary objection filed by Total, Justice Oyeyoju Oyewunmi, held that the…

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Subsidy fraud – Court orders arrest of two oil marketers

Oct 8, 2013

An Ikeja High Court on Tuesday issued a bench warrant on two oil marketers, Opeyemi Ajuyah and Olarenwaju Olalusi, for failing to attend their trial without cogent reasons. The warrant for the arrest was issued by Justice Lateefat Okunnu against the two marketers, who were standing trial over alleged N1.1 billion fuel subsidy fraud. The…

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English court lacks jurisdiction, Ibori’s defence tells court

Oct 7, 2013

The former Governor of Delta State, Chief James Ibori, has told the Southwark Crown Court in London that the British court system lacks the power and jurisdiction to determine and reach a conclusion for the Nigerian Code of Conduct Bureau to confiscate his assets. Ibori is currently serving a jail term in a London prison.…

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Ibori has no shares in Ocean and Oil Services, Oando – Witness

Oct 2, 2013

The Crown prosecutor, who has been vigorously contesting the legality of assets belonging to the former Delta State Governor, Chief James Ibori, Tuesday failed to gain upper hand especially on the numbers of shares Ibori controls in Oando Plc. At the Southwark Crown Court, London, venue of the assets confiscation hearing, the Crown prosecutor, Sasha…

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UK court rejects document linking Ibori to Oando shares

Sep 27, 2013

The hunt by the Crown prosecution for the hidden assets of former Delta State governor, James Ibori, suffered a set-back yesterday at the Southwark Crown Court, United Kingdom (UK), when the judge, Mr. Anthony Pitts, upheld an objection that a vital document linking Ibori to a substantial holding of the shares of Oando Oil Plc…

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Ibori: British prosecutor retracts claims on Oando shares

Sep 26, 2013

As the asset forfeiture case involving Chief James Ibori, continues in London, the British Crown prosecution has denied suggesting that the former governor of Delta State owns 30 per cent of Oando Oil. Giving evidence yesterday, while under cross examination from QC Krolic, James Ibori’s counsel, detective constable, Peter Clark, stated: “Your honour, Mr. Krolic…

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Stakeholders apprehensive over Oando’s shares decline

Sep 24, 2013

Stakeholders in the oil and gas industry are becoming apprehensive over the decline inOandoPlc shares, which dropped by 10 per cent on the Nigerian Stock Exchange last week. The drop in the Oando share price was attributed to the revelationsmade at a Southwark, London Court, lastweek by the former Governor of Delta State, James Ibori,…

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Oando to publish list of shareholders – Tinubu

Sep 22, 2013

Group Chief Executive, Oando Plc, Mr Wale Tinubu, on Friday said the company would publish names of shareholders on its web site to ensure sustainable corporate governance. Tinubu said this in Lagos at a meeting with the stockbrokers at the Nigerian Stock Exchange, NSE, to explain its stance on former Gov. James Ibori’s alleged ownership of 30 per…

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