The decision by Shell Petroleum Development Company of Nigeria Limited (SPDC) to sell its Nigerian onshore oil subsidiary has alarmed the Ugbo-Ilaje village in Ondo State.
It implored the Federal Government to turn down the oil tycoon’s offer to sell off its holdings until it complies with the Federal High Court of Akure’s ruling.
Shell was prohibited by the court from selling or giving up any of its assets within the nation.
Respondents include Nigeria National Petroleum Corporation Limited (NNPCL), Attorney-General of the Federation, Shell International Company Limited, and Shell International Exploration and Production Limited.
The applicants, who filed an N3.1 trillion lawsuit, are pleading with the court to uphold their legal rights and mandate the restoration of the area they claim was harmed by the first and second respondents’ burst pipes, which leaked oil.
Ex parte moving to prevent Shell from divesting, the applicants hoped to prevent the case from becoming academic or null and void if they won.
The SPDC and four other parties were ordered by Justice T. B. Adegoke not to sell, assign, deface, or otherwise dispose of any of their assets or properties, including buildings owned by the organisation, oil fields, wells, installations, cars, equipment, investments, offshore or onshore, or any of its properties in any part of Nigeria.
The injunction will remain in effect until the hearing and resolution of the lawsuit that Ugbo-Ilaje natives filed against them, in which case they obtained a Mareva order against Shell, the court decided.
Following an ex-parte motion filed and argued by Mohammed Ndarani (SAN) on behalf of the applicants, Prince Afolabi Akinruntan and 1,215 others, the restraining order was issued. FHC/AK/CS/68/2023 is the suit number.
“That the ex-parte order will last pending the determination of this suit,” Justice Adegoke ordered on September 28, 2023, adding that the suit shall be given an accelerated hearing.”
The ruling > https://swiftreportersonline.com/wp-content/uploads/2024/01/Ruling1.pdf
