The FG has in recent times, clamped down on several foreign multinational companies, who have been accused of one offence or the other and slammed with heavy suits at the courts. MTN Nigeria is still reeling from the $1 billion fine imposed on it for non-compliance with disconnecting unregistered lines. Similarly, the Federal government has also sued Chevron, Total and Agip, asking for a total of $12.7 billion over alleged non-declaration of 57 million barrels of crude shipped to the U.S. between 2011 and 2014.
Now, the Shell Petroleum Development Company of Nigeria Limited has been dragged to court in a $813.5 million over shortfalls in payments made to the Central Bank of Nigeria for lifting crude oil in 2013 and 2014.
The suit was filed by Professor Ajogwu, who supplied affidavits of professionals who tracked the records of crude oil lifted from Nigeria as well as their destinations and records of imported crude oil in the United States, and noticed discrepancies. These shortfalls and a 21% per annum interest would amount to $406.75 million. The FG is also seeking the same amount in legal fees and general exemplary damages to the tune of $403.75 million, totaling $813.5 million.
Presiding Judge, Mojisola Olatoregun Isola, has adjourned the matter to Oct. 20, for the mention of the case.
