Supreme Court orders FG to recover excess profit from oil firms

The Supreme Court on Wednesday ordered Federal Government to immediately commence steps to recover all revenues lost to the international oil companies (IOCs) and other Exploration and Production (E&P) companies due to wrong profit under the Production Sharing Contracts since August 2003. A seven-man panel of the apex court led by the Chief Justice of […]

NFF Director, others’ N3.4bn fraud case for hearing Thursday

A Federal Capital Territory High Court has fixed Thursday, October 18 for the arraignment of a Director in the Nigeria Football Federation (NFF), Christopher Andekin, and two other officials of the Federation who were accused by the Economic and Financial Crimes Commission (EFCC) of fraud to the tune of $9.5m (about N3.4 billion). A statement […]

Court confirms jail sentence for ex-IMF chief

Spain’s Supreme Court on Wednesday confirmed former IMF chief Rodrigo Rato’s jail sentence of four years and six months for misusing funds, which is expected to see him enter prison soon. In February 2017, Rato was found guilty by another court of paying for personal expenses with credit cards put at his disposal when he […]

$69m Crude Oil Shipment: Court adjourns FG’s suit against Chevron

A Federal High Court, Lagos State on Wednesday adjourned until December 4, a 69 million dollars suit filed by the Federal Government of Nigeria, against Chevron Petroleum Nigeria Ltd, seeking to recover oil revenue. The Federal Government filed the suit against Chevron Nigeria Ltd, and Chevron Petroleum Nigeria Ltd, as first and second defendants, respectively. […]

Judiciary’s support key to AMCON’s debt recovery drive – Kafarati

The Chief Judge of Federal High Court, Abuja Division, Hon. Justice Adamu Abdu Kafarati, has urged judges in the country to support current efforts by the Asset Management Corporation of Nigeria (AMCON) to recover bad loans from debtors in view of the implications for the nation’s economic growth. Justice Kafarati gave the advice when he […]