The federal government of Nigeria has sued Shell Petroleum Development Company of Nigeria Limited and its allied Shell Western Supply & Trading Limited for nearly $407 million as part of its battle to recover all monies siphoned through undeclared/under-declared lifting of the nation’s crude oil.
The government says $406,751,070 is the total sum of the missing revenues from the shortfall/undeclared/under-declared crude oil shipments of the government, including interest on the money.
The government has so far filed 15 separate suits against 15 oil companies at the Federal High Court in Lagos.
In an amended statement of claim filed before the court by Professor Fabian Ajogwu, a Lagos lawyer, and accompanied by the sworn affidavit of three United States-based professionals, the government alleged that sometime in 2014, it experienced a decline in the revenue derived from the export of crude oil. The ensuing investigation showed that the decline was partly attributable to un-declaration and under-declaration of crude oil shipments by some major oil and gas companies operating in Nigeria.
from Naijanewsmag http://ift.tt/2d1uVtK
via IFTTT
