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$140m Saga: Court Blocks Shell’s Accounts For Allegedly Diverting 16m Barrels Of Crude Oil

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A Federal High Court in Ikoyi, Lagos has granted a temporary Mareva injunction directing commercial banks to block Shell Petroleum Development Company of Nigeria Limited accounts.

The court ruled in a bid to recover the cash value of more than 16 million barrels of crude oil allegedly diverted by the oil giant from AITEO Eastern E & P Company Ltd.

Justice Oluremi Omowunmi Oguntoyinbo gave the order following an ex parte application in suit no FHC/L/CS/52/202 where AITEO Eastern E & P Company Ltd is the plaintiff/applicants and SPDC Ltd is the first defendant.

THE Royal Dutch Shell Plc, Shell Western Supply and Trading Ltd, Shell International Trading and Shipping Company Ltd, and Shell Nigeria Exploration and Production Company Ltd are second, third, fourth and fifth defendants.

The respondents in the suit were 20 banks which Shell companies operate accounts with.

AITEO’s application was filed by Messrs Kemi Pinheiro (SAN), leading Dr Mike Ozekhome (SAN), Dapo Olanipekun (SAN), and four other Senior Advocates of Nigeria.

Oguntoyinbo, in his ruling said, the banks should, “ring-fence any cash, bonds, deposits, all forms of negotiable instruments to the value of $2.7billion and pay all standing credits to the Shell companies up to the value into an interest yielding account in the name of the Chief Registrar of the court.”

He also ruled that the Chief Registrar is to “hold the funds in trust pending the hearing of the motion and determination of the motion on notice for interlocutory injunction filed before it by AITEO.”

The order followed an application by AITEO Eastern E & P against SPDC and the other defendants with the 20 lenders as respondents.

The court had restrained the defendants or their agents/privies from presenting to the banks “any mandate or instrument for the withdrawal of any money and/or funds standing to the credit of any of the accounts” of the defendants kept/maintained “at any of the named respondent banks… without first preserving/ring-fencing the sum of $1,251,305.5 or its equivalent in any other official currency, including but not limited to the naira and/or pound sterling being the value of the plaintiff’s 1,022,029 barrels of crude oil (at the rate of $79.50 per barrel as stated in the Department of Petroleum Resources (DPR) letter dated 8th day of July, 2020.”

The respondents were further barred from offering any directive or instrument to the named banks for the withdrawal or any money and/or funds standing to the credit of any of the accounts of the five defendants kept or sustained at any of the named respondent banks and/or their branches without first preserving and or ring-fencing the total sum of $2,700,583,779,75 or its equivalent in any other official currency comprising of $799,000,000.00.

The sum is “the amounts claimed to have been paid in this suit by the plaintiff to the five defendants for the acquisition of the Nembe Creek Trunk Line (NCTL) pipelines and the assets; $389,631,877.76 being the total amount claimed in this suit as having been lost by the plaintiff arising from the leakages in the NCTL and the degraded conditions of the NCTL; $578,951,901.99 being the total amount claimed in this suit as having been lost by the plaintiff arising from the crude theft/larceny in the NCTL; $933,000,000 being the total amount claimed in this suit as having being expended by the plaintiff for the repairs of the pipelines and acquisition of the equipment including well-heads, generators, and pumps as well as replacing the flow lines within the NCTL.

“That pending the hearing and determination of the motion on notice for interlocutory injunction, the named banks whether by themselves, director, managers, officers or howsoever are restrained in the interim from accepting, honouring or giving effect in any manner howsoever to any mandate, cheque or instructions presented by all the five defendants whether by themselves or through their agents or privies for the withdrawal of any sum of money and/or funds standing to the credit of all the defendants kept and or maintained at any of the named banks and or their branches without first preserving and or ring-fencing the sums as ordered in prayers 1, 2, 3 and/or 4 above.”

Oguntoyinbo ordered that the respondent banks, “to pay any sums of money standing to the credit of the defendants within 48 hours of the service of the order of this honourable court up to the sum/value of the amounts stated in prayers 1,2,3, and 4 above into an interest yielding account in the name of the Chief Registrar of this honourable court, who is to hold same in trust.

“Pending the hearing and determination of the motion on notice for an interlocutory injunction, the respondent banks are directed to sequestrate and/or ring-fence any cash, bonds, deposits, all forms of negotiable instruments or chose(s) in the action due to or standing to the credit sum/value of the amounts stated in prayer 1, 2 ,3 and/or 4 above.

“That pending the hearing and determination of the motion for an interlocutory injunction, the named banks are directed to file within 48hours of service of the order of this honourable court on them returns of the statement of account of the all the five defendants maintained with them as at the date of the order of this honourable court, such returns to be verified by affidavits”.

When the matter came up, the court was informed that the defendants had filed an application seeking to discharge the order.

The judge adjourned further proceedings till Wednesday, February 24.

 

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Over 26,000 Lagos Students Failed 2024 WASSCE -Commissioner

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The Lagos State Government has disclosed that 26,592 public school students failed the 2024 West African Senior School Certificate Examination, raising alarm across the state’s education sector.
The state Commissioner for Basic and Secondary Education, Jamiu Alli-Balogun, during a ministerial press briefing yesterday in Alausa, Ikeja, said that “45.7 per cent of the 58,188 students from public schools who sat for the exams did not pass.”.
This failure rate comes despite the state government’s significant financial backing N1.577 billion was paid on behalf of the students to cover WAEC fees.
“Suffice to say that the sum of N1,577,794,000 only was paid by the state government as examination fees for 58,188 students who were captured for the year 2024 WASSCE,” Alli-Balogun announced.
In a bid to tighten accountability and avoid wastage, the Commissioner disclosed that biometric and image registration was carried out to accurately determine eligible students for government sponsorship for the 2025 WASSCE.
“The exercise successfully captured and registered 56,134 students as bona fide beneficiaries of the Lagos state government’s sponsorship for the examination,” he added.
However, the Lagos State Government rolled out a bold educational intervention – the Eko Learners’ Support Programme for WASSCE and NECO candidates – aimed at reversing the tide of academic failure in the state’s public schools.
Launched on January 14, 2025, the initiative is part of a broader commitment by the Ministry of Basic and Secondary Education to equip Lagos students with tools for success.
“This forward-thinking initiative was designed to support and empower young scholars in attestation of the ministry’s commitment to advancing interest and management of the educational system in Lagos State,” Alli-Balogun stated.

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Ekiti Vaccinates Over 226,000 Girls Against HPV

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Ekiti State Government says it has vaccinated 226,429 eligible girls in the State against the Human Papilloma Virus, an infection believed to be a leading cause of cervical cancer.
The wife of the Ekiti State Governor, Dr Olayemi Oyebanji, said the HPV immunization exercise, which she flagged off in the State in May 2025 was a great success, noting that it reached targeted communities and protected children against cervical cancer.
The governor’s wife made the disclosure in Ado Ekiti yesterday during a one-day stakeholders’ sensitisation meeting on the introduction of Measles Rubella vaccines in Ekiti State.
She said, “The introduction of Measles Rubella Vaccines is a very crucial step towards protecting Ekiti children particularly the target age group of nine to 14 years from diseases.
“I urge all women in the State to regularly scan their breasts. This can be done with the aid of the Mammography machine which is available at Ekiti State University Teaching Hospital, Ado Ekiti”.
The state Commissioner for Health, Dr Oyebanji Filani, noted that the Measles Rubella vaccines would be rolled out nationally in October, 2025.
Filani said that the State was taking proactive steps to sensitise residents of the State before the date to ensure adequate awareness on the vaccines by citizens.

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Monarch Preaches Peace As He Unveils Palace

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The Acting Ochimba of Ogida in Etche Local Government Area of Rivers State, Eze Ndudiri Azuatalam, says peace remains paramount in the socio-economic development of Etche land.
Eze Azuatalam, however, called on his people to embrace and eschew violence at all times.
The Onwa Nagbara Oha made the call during the official commissioning of his palace at Ogida recently.
The epoch-making ceremony held at his palace saw the attendance of members of the Etche Supreme Council of Traditional Rulers and Chiefs; the academia; the political class; the clergy ; women as well relevant stakeholders within and outside Etche land.
The Ngbaragida of Azuafor re-emphasised the essence of peace and social harmony which he said open the window for meaningful development to take place.
He also sought the support and collaboration of his people to achieve the desired goals of development, progress and prosperity.
He noted that the peace being witnessed in the area must be sustained through collective effort, saying, contributions and sacrifices need to be made by all concerned to live in peace.
Eze Azuatalam said his aim towards building a better Ogida cannot be compromised as he and his people have no other place called home.
The Acting Ochimba said as part of efforts to build a better Ogida, he has instituted a number of development projects, adding that some of his kinsmen have been empowered through his hard-earned money and resources, saying, he will continue to assist the less- privileged around him.
He reaffirmed his desire to impact positively on the lives of his people as the engagement of the youths will help to reduce social vices in the area.
He thanked members of the Etche Supreme Council of Traditional Rulers and Chiefs for honouring his invitation.
He specifically thanked the Onyi Ishi Etche and Ochie of Etcheland, His Eminence E mmanuel Opurum for leading Etche on the path of prosperity, and described the revered King as a role model to the younger generation.
He said his fatherly role has been a source of hope and inspiration to his subjects.
The palace was unveiled by His Eminence with the assistance of Ochimba of Abara, Eze Jonah Nwala and other prominent Etche traditional rulers and chiefs while the Onyi Ishi Etche was represented by Eze Ken Nwala, Onyi Ishi Agwuru, Ulakwo/ Umuselem Clan.
The Onyi Ishi Etche urged other prominent sons of Etche to emulate the kind gesture of Eze Ndudiri Azuatalam as his magnanimity is being seen and appreciated by his people.
Eze Azuatalam also applauded the efforts of Prof Mekuri Ndimele, former Vice Chancellor of the Ignatius Ajuru University of Education in the growth of Etche land.
According to him, during Ndimele’ s tenure, a lot of development projects were sited at the institution, including the development of Etcheland and empowerment of Etche people.

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