Energy

CSOs, others back Aiteo $2.5 billion lawsuit against Shell over sale of OML 29

Aiteo Group

Civil Society Organisations (CSOs), environmentalists, lawyers and ethnic leaders among other Nigerians have thrown their weight behind Aiteo’s decision to institute a legal action against Shell Petroleum Development Company of Nigeria, seeking the sum of over $2.5 billion compensation over the sale of Oil Mining License (OML) 29.

Aiteo in the court action dated July 27, 2021, had accused Shell of selling two Marginal Fields – Kugbo West and Okiori to it when it, “knew or ought to have known that the defendant had handed over the wells to the federal government of Nigeria\Nigerian National Petroleum Corporation for which the defendant received valuable consideration in or about 2009 prior to the agreement for assignment.

Read Also:  NERC approves eight additional firms for prepaid meter distribution

The CSOs in a statement by their joint Convener Bassey Henshaw expressed displeasure at the alleged fraud perpetrated by SPDC against Aiteo but commended Aiteo for not resorting to self-help.

The group said since the issue has been brought before the court of law, the judiciary arm of government should give the matter the needed expedited action.

Also, the Nigerian Ethnic Youth Leaders Council (NEYLC), commended Aiteo for taking the legal option.

The council, which is made up of the Arewa Consultative Youth Movement, Ohanaeze Ndigbo Youth Movement, Oduduwa Youths and Middle Belt Youths, note that it’s commendable that Aiteo took the legal route to right the wrong.

Read Also:  Oando records N8.5 billion PAT in H1 2018

A statement by its Head of Coalition’s Secretariat, Nwada Ike Chiamaka, said it was wrong for the SPDC to have perpetrated the fraud at the first instance.

It expressed the conviction that Aiteo will get justice at the court and get back what rightly belongs to it.

Get more stories like this on Facebook, Twitter and Telegram