Nigerian govt amends crude theft suit against Shell

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The Federal Government has amended its suit against Shell Petroleum Development Company of Nigeria and its subsidiary, Shell Western Supply & Trading Limited, over alleged crude oil theft

The plaintiff’s counsel, Mr. Ituah Imhanze told Justice Mojisola Olatoregun of the Federal High Court in Lagos of an application to make changes to the statement of claim.

The judge granted the application, but noted that there had been no remarkable progress in the suit since it was filed.

The federal government is claiming $406.8million from the defendants, which it said is the shortfall of money remitted to the Central Bank of Nigeria (CBN).

The money was said to be for crude oil lifted in 2013 and 2014.

The plaintiff accused the company of not declaring or under-declaring crude oil shipments during the period.

It said following forensic analysis of bills of laden and shipping documents, it discovered that Shell allegedly cheated Nigeria of the revenue.

The plaintiff said a consortium of experts tracked the global movements of the country’s hydrocarbons, including crude oil and gas.

The plaintiff averred that the undeclared shipments between January 2013 and December 2014 brought the total value of the entire shortfall to $406.75 million.

The defendants were said to have failed to respond to a letter seeking clarifications on the discrepancies.

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