Legal & Regulatory

Ibori owns one-third of Oando – UK prosecutor

Sep 18, 2013

It was a startling revelation at a London court Tuesday at the hearing on the confiscation of assets of the former Governor of Delta State, James Ibori, as he was said to be owner of almost one-third of Oando Oil Plc. On the second day of the ongoing hearing at the Sourthwark Crown Court, London,…

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Oil spill: Ogoni community drags Shell to London court

Sep 18, 2013

Following a disagreement on the amount to be paid as compensation over the 2009 major oil spill that devastated their environment, the people of Bodo community in Gokana Local Government Area of Rivers State have again dragged Shell Petroleum Development Company  (SPDC) Limited before a London Court. The action was as a result of the…

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Eastern Electric heads to court over Enugu Disco

Sep 18, 2013

The intrigues over the privatisation of Enugu Electricity Distribution Company yesterday assumed a new dimension as Eastern Electric Limited, the reserve bidder for the asset has approached a Federal High Court sitting in Abuja to restrain the National Council on Privatisation (NCP) and the Bureau of Public Enterprises (BPE) from handing over the asset to…

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4 oil firms, 2 CEOs arraigned over N2.9bn fuel subsidy scam

Sep 17, 2013

The last may not have been heard about the fuel subsidy scam by some oil companies as the Special Fraud Unit of the Nigeria Police Force, have charged four companies and two Managing Directors/Chief Executive Officers to court for allegedly obtaining N2.9 billion from the Federal Government under false pretence of importing petroleum products into…

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UK prosecutor claims Ibori hid assets in Oando; oil company denies allegation

Sep 17, 2013

A British prosecutor Monday told a London Southwark Crown Court that former Delta State Governor, Chief James Ibori, who is currently serving a jail term in the United Kingdom, hid some of his assets in an oil firm, Oando Plc. The prosecutor, Sasha Wass, according to Reuters, also told the court that some amount of…

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EFCC arrests oil subsidy fraud suspect on court premises

Sep 15, 2013

The Economic and Financial Crimes Commission (EFCC) yesterday in Lagos arrested a fuel subsidy fraud suspect, Seun Ogunbambo, who was recently declared wanted by the commission after failing to appear for his trial. He was picked up at the premises of a Lagos High Court in Igbosere where he was to appear before Justice Olabisi…

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Shell seeks settlement for Nigeria oil spill

Sep 6, 2013

Negotiations between Royal Dutch Shell and the lawyers representing 15,000 Nigerians claiming compensation for two oil spills that occurred in the Niger Delta in 2008 are set to begin next week, in a bid to end litigation against the company in United Kingdom. Shell is facing a lawsuit in London’s High Court over the two…

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Lagos drags FG, Civil Defence Corps to court

Sep 4, 2013

The Lagos State Government yesterday instituted a law suit against the federal government and the National Security and Civil Defence Corps (NSCDC), for arresting residents over allegation of pipeline vandalism, which it said, could not be established. The Director of the Office of the Public Defender (OPD), Mrs. Omotola Rotimi, disclosed this in a statement,…

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AMCON takes over Capital Oil

Aug 29, 2013

The Assets Management Corporation of Nigeria, AMCON, has taken over Capital Oil and Gas Limited in line with its mandate to recover the toxic assets of banks and further help in strengthing the industry. Capital Oil is one of the organisations that is exposed to banking facilities following a stress test carried out by the…

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Navy hands over oil thieves apprehended in Bayelsa to EFCC

Aug 26, 2013

For 11 Nigerians and a Camerounian suspected  of oil theft, the day of justice is approaching. The end of the road in their nefarious activities came recently when officials of the Nigerian Navy intercepted their boat and arrested them for allegedly stealing 10,000 litres of illegally refined diesel   off the waterways of the Egweama community…

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