How Diezani, others diverted NNPC’s $1.8bn –FG

Nigerian businessmen, Kola Aluko and Jide Omokore, have urged
the Federal High Court in Lagos to stay further proceedings in a
suit filed against them by the Federal Government to recover an
alleged debt of $1.8bn.

The court, presided over by Justice Oluremi Oguntoyinbo, had
last year made a mareva injunction freezing the defendants’ assets
both at home and abroad pending the determination of the suit.

The Federal Government sued Aluko and Omokore, who are allies of
a former Minister Petroleum Resources, Mrs. Diezani Alison-Madueke,
alongside their companies, Atlantic Energy Drilling Concepts
Nigeria Limited and Atlantic Energy Brass Development Limited.

In an affidavit attached to the suit filed through its lawyer,
Mr. Dipo Okpeseyi (SAN), the Federal Government alleged that the
defendants unlawfully diverted a profit of about $1.8bn due to it
on crude oil which they lifted and sold.

A lawyer from the Federal Ministry of Justice, Isaac Oginni, who
deposed to the affidavit, said rather than pay the Federal
Government, the defendants converted the $1.8bn to their own and
used it to, among others, buy several vehicles valued at over
N800m, which they allegedly donated to the Peoples Democratic
Party.

According to Oginni, the defendants also bought another set of
vehicles worth over N130m and gave them out to Diezani and some
other management staff members of the Nigerian Petroleum
Development Company.

He added that Aluko, among others, also used part of the
allegedly diverted funds to purchase a 26-flat property at 46,
Gerrard Road, Ikoyi, Lagos for which he made part payments of
$18,548,619.99 and N1,070,000,000 to FBN Mortgages Limited.

Efforts by the defendants to vacate the mareva injunction
freezing their bank accounts and assets both locally and
internationally failed late last year as Justice Oguntoyinbo
dismissed their application, seeking to vacate the injunction.

The judge held that the injunction would subsist until the final
determination of the case filed against them by the Federal
Government.

The displeased businessmen and their companies, however,
appealed the ruling and subsequently urged Justice Oguntoyinbo to
stay further proceedings in the case pending the outcome of the
appeal. Justice Oguntoyinbo adjourned till September 29, 2017 to
determine the new application.

Nigerian businessmen, Kola Aluko and Jide Omokore, have urged
the Federal High Court in Lagos to stay further proceedings in a
suit filed against them by the Federal Government to recover an
alleged debt of $1.8bn.

The court, presided over by Justice Oluremi Oguntoyinbo, had
last year made a mareva injunction freezing the defendants’ assets
both at home and abroad pending the determination of the
suit.

The Federal Government sued Aluko and Omokore, who are allies of
a former Minister Petroleum Resources, Mrs. Diezani Alison-Madueke,
alongside their companies, Atlantic Energy Drilling Concepts
Nigeria Limited and Atlantic Energy Brass Development Limited.

In an affidavit attached to the suit filed through its lawyer,
Mr. Dipo Okpeseyi (SAN), the Federal Government alleged that the
defendants unlawfully diverted a profit of about $1.8bn due to it
on crude oil which they lifted and sold.

A lawyer from the Federal Ministry of Justice, Isaac Oginni, who
deposed to the affidavit, said rather than pay the Federal
Government, the defendants converted the $1.8bn to their own and
used it to, among others, buy several vehicles valued at over
N800m, which they allegedly donated to the Peoples Democratic
Party.

According to Oginni, the defendants also bought another set of
vehicles worth over N130m and gave them out to Diezani and some
other management staff members of the Nigerian Petroleum
Development Company.

He added that Aluko, among others, also used part of the
allegedly diverted funds to purchase a 26-flat property at 46,
Gerrard Road, Ikoyi, Lagos for which he made part payments of
$18,548,619.99 and N1,070,000,000 to FBN Mortgages Limited.

Efforts by the defendants to vacate the mareva injunction
freezing their bank accounts and assets both locally and
internationally failed late last year as Justice Oguntoyinbo
dismissed their application, seeking to vacate the injunction.

The judge held that the injunction would subsist until the final
determination of the case filed against them by the Federal
Government.

The displeased businessmen and their companies, however,
appealed the ruling and subsequently urged Justice Oguntoyinbo to
stay further proceedings in the case pending the outcome of the
appeal. Justice Oguntoyinbo adjourned till September 29, 2017 to
determine the new application.