A Lagos High Court, Ikeja Judicial Division, will commence the trial against international oil company, Trafigura Baheer BV, and her Nigerian counterpart, Trafigura PTE Ltd on a three-count charge bordering on corporate international conspiracy that led to the insolvency of a Nigerian financial institution, Spring Bank, which financed the deal.
Joined as defendants in the case are two Nigerians, Yusuf Yahaya Kwande, and Osahon Asemota. The other companies that are defendants include Mettle Energy and Gas ltd, Renbrandt Ltd, and JIL Engineering and Oil Services Ltd, and it involved 10,000 metric tonnes of Automotive Gas Oil (AGO) valued at N200 million.
After 10 years of international investigation, the Economic and Financial Crimes Commission (EFCC) instituted a suit against Messrs Trafigura Baheer BV, Yusuf Yahaya Kwande, Mettle Energy and Gas Ltd, Renbrandt Ltd, Trafigura PTE Ltd, and Osahon Asemota on a three-count charge of conspiracy to commit felony to wit. The trial will be presided over by Justice Mojisola Dada of the Special Offences Court, Ikeja.
Source: Sahara Reporters