Legal & Regulatory

Malabu oil deal – Reps report indicts Adoke, Shell, Agip

Jul 15, 2013

Ten months after its inauguration, the House of Representatives committee which investigated the transaction involving the Federal Government and Shell/Agip Companies and Malabu Oil and Gas Limited in respect of the Sale of Oil Bloc OPL 245 investigating has fingered the attorney- general of the federation (AGF), Mr. Mohammed Adoke (SAN), Shell Nigeria Exploration and…

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NIMASA lifts Bonny channel blockade

Jul 15, 2013

Federal High Court (FHC) upheld its jurisdiction that was challenged by the Attorney-General of the Federation (AGF) as well as Global West (GW) and NIMASA in the suit filed by NLNG seeking an interpretation of the NLNG Act and the legality of taxes being demanded by NIMASA. The court held that the Federal Government of…

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NLNG/NIMASA face-off: Depots run out of cooking gas

Jul 12, 2013

Major Liquefied Petroleum Gas (cooking gas) depots in Lagos, from where the product is loaded and transferred to other parts of the country, are now empty due to the lack of supply from the Nigerian Liquefied Natural Gas Limited. NLNG’s inability to supply cooking gas to the domestic market is because of the blockade of…

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Court rules on NLNG/NIMASA case today, July 12

Jul 12, 2013

A Lagos Federal Court has fixed July 12 for ruling on the ongoing row between the Nigeria Liquefied and Natural Gas (NLNG) Limited and the Nigerian Maritime Administration and Safety Agency (NIMASA) over alleged failure to pay some statutory charges to the Federal Government. Justice Mohammed Idris will rule on two preliminary objections filed by…

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Why Delta can’t claim Ibori’s $15m bribe – FG

Jul 11, 2013

The Federal Government on Wednesday gave reasons why the Delta State Government should not claim the $15m said to have been received by the Economic and Financial Crimes Commission from an  agent of  former  Governor James Ibori in 2007 as a bribe . The   Government said the state  had once   distanced itself from the sum …

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NLNG Blockade Continues

Jul 9, 2013

The blockade to Nigeria’s NLNG ships is still ongoing, despite a court order to end it. A Nigerian federal court once again issued an order for the maritime security agency to end a blockade which is costing an estimated $22 million a day. Justice M.B. Idris rejected an application against the ruling from the Nigerian…

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EU, Italy, Netherlands to probe Malabu oil deal

Jul 8, 2013

The European Union has promised to commence an investigation into the Malabu oil deal scandal. This follows a letter by international extractive industry advocacy groups, Publish What You Pay (PWYP) and Zero Corruption Coalition (ZCC) have written the Italian and the Netherlands governments urging them to urgently institute an investigation into the Malabu oil deal…

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NIMASA, NLNG’s face-off costs Nigeria N4.48bn daily

Jul 8, 2013

The Federal High Court  will rule today  on a tax dispute between Nigeria Liquefied  Natural Company (NLNG) and the Nigerian  Maritime Administration  and Safety  Agency (NIMASA). But there is hint that NLNG is contemplating resolving the dispute out of court. The deadlock is costing $22 million (N4.48billion) a day in lost gas exports, according to…

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NEITI lauds judgment ordering Mobil to pay $83.4m tax

Jul 4, 2013

The Nigeria Extractive Industries Transparency Initiative on Sunday praised the recent judgment by the Tax Appeal Tribunal ordering Mobil to pay $83.4m as tax to the Federal Inland Revenue Service. The tribunal recently ordered the oil giant to pay its Education Tax liability to the federation for the year 2008. A statement by the Director,…

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Expert flays oil sector’s $680bn loss to corruption

Jul 4, 2013

The Chief Executive Officer, BOk Development Limited, Mr. Adekunle Disu, has condemned the loss of $680bn annually to corruption in the oil and gas sector due to sharp practices. Disu, who described the situation as appalling, however, expressed optimism that the colossal loss could be effectively checked if government imbibed the political will to tackle…

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