Connect with us


shell

The Federal Government is demanding $406.75 million at the minimum from the Shell Petroleum Development Company (SPDC) and its surrogate Shell Western Supply & Trading Limited for alleged crude oil theft.

The amount, according to court papers in Lagos, represents the shortfall of the money paid by the multinational oil firm in the account of the Nigerian government with Central Bank of Nigeria (CBN), for crude oil lifted in 2013 and 2014, reported the News Agency of Nigeria (NAN) yesterday.

The federal government’s legal team led by Professor Fabian Ajogwu accused the Anglo-Dutch oil multinational of not declaring or under-declaring crude oil shipments during the period, following a forensic analysis of bills of lading and shipping documents.

Ajogwu, armed with sworn affidavits of three U.S.-based professionals, claimed that Shell cheated Nigeria of the revenue.

The three professionals employed by the federal government are: Professor David Olowokere, a U.S. citizen who is the lead analyst at Loumos Group LLC, a technology and oil and gas auditing firm based in U.S.; and Mr. Jerome Stanley, a counsel in the law firm of Henchy & Hackenberg, a law firm based in U.S. and head of the legal team engaged by Loumo Group LLC.

The third professional is Mr. Micheal Kanko a citizen of the U.S. and resident of the state of Arizona, who is the founder and current chief executive of Trade Data services Company.

The experts were able to track the global movements of the country’s hydrocarbons, including crude oil and gas, with the main purpose of identifying the companies engaged in the practices that led to missing revenues from crude oil and gas export sales to different parts of the world.

In reconciling the export records from Nigeria, with the import records at ports in the United States of America, the experts found mind-boggling discrepancies.

The Nigerian government averred, for instance, that on the 6th of January 2013, the defendants lifted crude oil using the vessel AUTHENTIC and shipped same to BP Oil Supply of 28301 Ferry Road, Warrenville, Illinois, USA at the port of Chester, Pennsylvania, United States of America.

The shipment had the bill of lading number ALMYSVDM161212A3. This particular shipment, the experts unearthed, was not declared to the relevant authorities in Nigeria, resulting in a shortfall of 660,712 barrels of crude oil in the value of $72,678,320 as revenue to the Government of Nigeria.

On the 3rd of January 2013, Shell and its surrogate company lifted crude oil that resulted in a shortfall of 979,031 barrels in the value of $107,693,410.

On the 14th of December 2014, Shell also lifted crude oil using the vessel EAGLE TUSCON and shipped same to Shell Deer Park of 5900 Texas 225, Deer Park, TX77536, USA at the port of Houston, Texas, United States of America, with bill of lading number AETK0909US14.

The shipment was not declared to the relevant authorities, resulting in a shortfall of 499,048 barrels of crude oil in the value of $54,895,280 as revenue to the Nigerian Government.

Shell, with its allied company, was also alleged at three different times to have shipped crude on board EAGLE TUSCON, EAGLE SEVILLE and OVERSEAS EVERGLADES that resulted in a shortfall of 3,697,737 barrels of crude oil, bringing the total value of the shortfall to $406,751,070.

BIG STORY

Ikorodu Teacher Arrested For Physically Abusing 3-Yr-Old Boy In Viral Video [SEE VIDEO]

Published

on

The Lagos State Domestic and Sexual Violence Agency has confirmed the arrest of a teacher following a viral video showing the suspect allegedly physically abusing a three-year-old boy at a school in Ikorodu.

The announcement was made in a statement shared on X (formerly Twitter) on Wednesday.

The video, shared by Oyindamola, who identifies as #dammiedammie35, captured a female teacher slapping the child’s face.

The video was captioned, “Footage from Christ-Mitots School in Ikorodu, a teacher named Stella Nwadigo was witnessed mistreating and physically abusing a three-year-old boy, Abayomi Micheal.”

The footage has raised serious concerns about the safety and well-being of our little ones in school.”

Reacting to the incident, the Lagos DSVA issued a statement expressing gratitude to those who brought the video to their attention

The statement reads, “We appreciate everyone who brought the disturbing incident of a teacher who was recorded physically abusing a 3-year-old boy to our attention.

We are pleased to inform the public that the teacher in question has been arrested by Owutu FSU, and an investigation has commenced in earnest.

The agency reiterated the state government’s commitment to protecting children, emphasizing that schools must be safe and nurturing spaces.

The statement added, “Indeed, institutions of learning should be safe, warm, and protective environments for all children in their care.

The State Government remains committed to ensuring the safety and well-being of every child by enforcing strict regulations, holding offenders accountable, and working with stakeholders to promote a zero-tolerance policy for abuse in any form.”

Continue Reading

BIG STORY

China Development Bank Approves $254m Loan For Kano-Kaduna Railway Project

Published

on

The China Development Bank (CDB) has provided a loan of $254.76 million for the construction of the Kano-Kaduna railway project in Nigeria.

In a statement on Tuesday, the bank stated that the funding aims to support the smooth advancement of the infrastructure project.

The CDB highlighted that the construction is being undertaken by China Civil Engineering Construction Corporation (CCECC), with financial support from the bank.

“The Kano-Kaduna railway, with a total length of 203 kilometers, is a standard-gauge railway,” the statement reads.

“Once completed, it will provide direct rail connectivity between Kano, an important northern city in Nigeria, and the country’s capital Abuja, offering local residents a safe, efficient, and convenient mode of transportation.”

In addition to enhancing mobility, the bank mentioned that the project is expected to stimulate economic growth along the railway corridor, generating job opportunities and promoting related industries.

“The Kano-Kaduna railway project has been included in the list of practical cooperation projects for the Third Belt and Road Forum for International Cooperation,” the CDB added.

The bank stated that the construction is progressing smoothly and reiterated its commitment to collaborating closely with the Nigerian government to ensure the disbursement of funds and effective management of the next phases of the project.

On July 15, 2021, President Muhammadu Buhari launched the construction of the Kano-Kaduna railway project.

The rail project is the third phase of the Lagos-Kano standard gauge railway modernization project.

The first phase (Abuja-Kaduna) and the second phase (Lagos-Ibadan) were inaugurated for commercial operations in July 2016 and June 2021, respectively.

Continue Reading

BIG STORY

ICPC Files Money Laundering Charge Against El-Rufai’s Former Commissioner

Published

on

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has charged Muhammad Sa’idu, a former commissioner during the administration of Nasir el-Rufai, ex-governor of Kaduna, to court over alleged “money laundering.”

The Kaduna police command arrested Sa’idu over a petition for alleged diversion of public funds.

Osuobeni Akponimisingha, the ICPC’s assistant legal officer, filed the case against the former commissioner on Tuesday at the federal high court in Kaduna.

Sa’idu served as the commissioner of local government affairs, chief of staff, and commissioner of finance during the administration of el-Rufai.

The ICPC dismissed an earlier claim that Sa’idu had been exonerated of all charges after 10 months of investigation.

The former commissioner is charged alongside Ibrahim Muktar, a staff in the ministry of finance.

According to the suit No. FHC/KD/IC/2025, the defendants are charged on a two-count charge of “money laundering.”

“Sometime in March 2022 or thereabouts, Alhaji Muhammad Bashir Sa’idu, who at that time commissioner of finance, did accept cash payment of the sum of N155m from one Ibrahim Muktar exceeding the amount authorised by law, which sum you received in cash through proxy to wit: Muazu Abdu, your Special Assistant and you thereby committed an offence contrary to Section2(a) and punishable under the Section 19(d) of the “Money Laundering(Prevention and Prohibition) Act, 2022,” the charge sheet reads.

The ICPC also alleged that within the same period, Sa’idu “indirectly took control of the sum of N155m received in cash for and on behalf of you by one Muazu Abdul from Ibrahim Muktar, which he reasonably ought to have known, formed part of the proceeds of an unlawful activity to wit: corruption and you hereby committed an offence contrary to section 18(2)(d) and punishable under Section 18(3) of the “Money Laundering(Prevention and Prohibition) Act, 2022.”

The anti-graft agency noted that section 18(3) of the “Money Laundering (Prevention and Prohibition) Act, 2022” states that “any person who contravenes the provisions of subsection(2) is liable on conviction to imprisonment for a term of not less than four years but not more than fourteen years or a fine not less than five times the value of the proceeds of the crime or both.”

Continue Reading

Most Popular