Saturday, June 12, 2021

How Diezani’s ally, Omokore, breached contractual agreement in $1.6bn Malabu deal, court told

Headline

Jaafar Jaafarhttps://dailynigerian.com/
Jaafar Jaafar is a graduate of Mass Communication from Bayero University, Kano. He was a reporter at Daily Trust, an assistant editor at Premium Times and now the editor-in-chief of Daily Nigerian.
tiamin rice
The managing director, Nigerian Petroleum Development Company Limited, NPDC, Yusufu Matashi, on Thursday told Justice Nnamdi Dimgba of the Federal High Court sitting in Abuja that his company allocated 7, 553, 733 barrels of crude oil to Atlantic Energy under a Strategic Alliance Agreement, SAA.
He gave this revelation under cross-examination by Lawal Rabana, SAN, representing Jide Omokore who is facing trial alongside Victor Briggs, Abiye Membere, David Mbanefo, Atlantic Energy Brass Development Limited and Atlantic Energy Drilling Concepts Limited on a 9-count amended charge of criminal diversion of about $1.6billion alleged to be proceeds of sale of petroleum products belonging to the federal government.
Mr Matashi, whose evidence started on Wednesday as second prosecution witness stated that while the total value of the transaction as at 2014 was $823, 750, 159, Atlantic Energy Drilling Concept Limited could not meet up with its cash call for operations and training which made NPDC, a subsidiary of Nigerian National Petroleum Corporation, NNPC, to use funds in its account to clear outstanding payments.
Responding to further questions from A. Adegbamere, SAN and Tayo Oyetibo, SAN representing 3rd and 4th defendants respectively, Mr Matashi maintained that, “Atlantic Energy Brass Development Limited and Atlantic Energy Drilling Concept Limited breached the contractual agreement made with NPDC”.
“All I have said were based on records which I believe in its truthfulness and accuracy. The SAA under review was carried out because of the success of the previous SAA and there was need to consolidate on the gains achieved earlier”, said the NPDC MD.
Justice Dimgba, thereafter, adjourned to March 21 for further trial.
READ  Nigeria lost $1.45bn worth of crude oil in 2015, NEITI report reveals

Subscribe to Our VIP Newsletter

[newsletter_signup_form id=1]
-->

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

cosgrove
atrk atrk atrk atrk atrk atrk atrk atrk atrk atrk