Businessmen, Kola Aluko and Jide Omokore, have urged the Federal High Court in Lagos to stay further proceedings.

They said this in a suit filed against them by the Federal Government to recover an alleged debt of $1.8bn.

The court had frozen their assets both at home and abroad pending the determination of the suit last year.

Aluko and Omokore who are allies of former Minister Petroleum Resources, Mrs. Diezani Alison-Madueke were sued by the Federal Government.

Read Also: ‘EFCC DISCOVERS DIEZANI, ALUKO DUBAI MANSIONS’

They were used alongside their companies Atlantic Energy Drilling Concepts Nigeria Limited and Atlantic Energy Brass Development Limited.

In an affidavit attached to the suit filed through its lawyer, Dipo Okpeseyi (SAN), the Federal Government alleged that the defendants unlawfully diverted a profit of about $1.8bn due to it on crude oil which they lifted and sold.

A lawyer from the Federal Ministry of Justice, Isaac Oginni, who deposed to the affidavit, said the defendants converted the $1.8bn to their own.

He said they bought several vehicles valued at over N800m, which they allegedly donated to the Peoples Democratic Party.

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According to Oginni, the defendants also bought another set of vehicles worth over N130m and gave them out to Diezani and some other management staff members of the Nigerian Petroleum Development Company.

He added that Aluko, among others, also used part of the allegedly diverted funds to purchase a 26-flat property at 46, Gerrard Road, Ikoyi, Lagos for which he made part payments of $18,548,619.99 and N1,070,000,000 to FBN Mortgages Limited.

The defendants could not vacate the mareva injunction freezing their bank accounts and assets both locally and internationally.

The judge held that the injunction would subsist until the final determination of the case filed against them by the Federal Government.

Read Also: I AM READY TO DRAG YOU TO PRISON WITH ME | ALISON-MADUEKE TOLD ALUKO, OMOKORE

The businessmen and their companies, however, appealed the ruling and subsequently urged Justice Oguntoyinbo to stay further proceedings in the case pending the outcome of the appeal.

Justice Oguntoyinbo adjourned till September 29, 2017 to determine the new application.

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When Sanusi spoke out about the corruption in the oil industry under Jonathan, some people almost lynched him for exposing their hero. Now, the truth is staring at all of us in the face. This particular transaction between Atlantic energy and NPDC was hammered by Sanusi in his letter to the president but instead of Jonathan and Okonjo Iweala to investigate the matter, they looked the other way and removed him from office.

The former attorney general and minister of justice should also be charged for conspiracy in this fraud. He gave a fraudulent legal opinion before the Senate to the effect that Atlantic energy and NPDC had no obligation to remit the around $1.8billion of crude proceeds to the federation account.

The current national chairman of PDP and all other senators that investigated the matter and cleared the former minister of petroleum should all be investigated for possible collusion and sanctioned for doing such a terrible job.

this is stale news... we know funds were stolen... we also know the government remained functional. now, funds are no longer be sealed by the Saints in government, yet what is the economic climate?

simplyhonest:
this is stale news... we know funds were stolen... we also know the government remained functional. now, funds are no longer be sealed by the Saints in government, yet what is the economic climate?

It is not stale news. The corruption of the PDP era is still very hot and it's the bedrock of our current economic crisis. We have to keep talking about it until all the loots are substantially recovered and all conspirators to the looting party are brought to justice.

simplyhonest:
this is stale news... we know funds were stolen... we also know the government remained functional. now, funds are no longer be sealed by the Saints in government, yet what is the economic climate?

If they had not looted Nigeria would have been far more developed than it is the & now.
During the era of high oil prices, other oil producing nations developed infrastructures and diversified their economy but what did we do?
WE looted and looted. We took our loots abroad and further impoverished ourselves.
During that period Money was in circulation - dollars pounds Naira. There was relative peace in the Niger Delta region.
We were producing at 2.2 million barrels.
Multiply that by $100.
We had enough greenback to cater for our import needs i.e Our balance of trade was slightly negative.
But what happened when it crashed?
How was our reserves?
Why did government fail to pay up salaries?

What about the corruption going on under this government,,,who is probing the likes of Amaechi,Tinubu,bachir lawal,fashola the website designer,fayemi that sold ekiti for 35 yrs & other Apc saints

Don't forget that our presidential jet is parked or in a hanger at a UK airport reading bills for no just reason & nobody is talking but later our tax payers money will be used to pay it's bills.

Achuwa1:
What about the corruption going on under this government,,,who is probing the likes of Amaechi,Tinubu,bachir lawal,fashola the website designer,fayemi that sold ekiti for 35 yrs & other Apc saints

If you wait for clean hands before you get justice then you had better prepare to wait till eternity.
The APC would also recycle the same narrative when out of power.

He who goes with equity should go with clean hands & buhari has a very dirty past couple with the fact that he has made lots of negative utterances (95%/%5)that has devided this nation along religious & ethnic lines.
They also say charity begins at home,so why didn't he start his cleansing from APC to lead by example before moving massively into the cleansely in PDP,then ppl would have given him credit.
As long as buhari is in the Herm of affairs,things will not change unless osibanjo takes that mantle of leadership completely before anything can work in Nigeria for now.

PDP is back now they attacking them, the more the attack PDP the more we know how phoolish they are

seunmsg:


It is not stale news. The corruption of the PDP era is still very hot and it's the bedrock of our current economic crisis. We have to keep talking about it until all the loots are substantially recovered and all conspirators to the looting party are brought to justice.

I get your point of view. let's first remember that most of looting is/was carried out by people who have since decamped to the "saint" APC party. also, we are practicing a democracy similar to the presidential system of the USA, Obama didn't seat back and whine daily about how Bush ruined the economy, he did his own best.... Donald Trump is not busy chasing Obama's shadows, he is creating his own legacy. every government in the world is corrupt, the difference is they don't wash their dirty linen in public... let's even assume that all oil revenue before may 2015 was stolen,... what has the government done with the revenue from that period till now...
secondly, what other form of corruption is worse than appropriating over 2 billion naira to the hospital in Aso Rock in the last two budgets, yet the head of aso rock is in London on "medical vacation"....pls let's be unbiased and state the obvious, not the smokescreen that the government wants us to see.

All these evidence and the clueless Buhari govt can nail a single conviction

Ehiscotch:

If they had not looted Nigeria would have been far more developed than it is the & now.
During the era of high oil prices, other oil producing nations developed infrastructures and diversified their economy but what did we do?
WE looted and looted. We took our loots abroad and further impoverished ourselves.
During that period Money was in circulation - dollars pounds Naira. There was relative peace in the Niger Delta region.
We were producing at 2.2 million barrels.
Multiply that by $100.
We had enough greenback to cater for our import needs i.e Our balance of trade was slightly negative.
But what happened when it crashed?
How was our reserves?
Why did government fail to pay up salaries?

you are right... the question is... are we supposed to continue whining about the past? when we have a clean slate to plan the future?... this government just loves to spin distractions.
since 1960, all successive governments have looted the treasury including this present government. the difference is ALL FORMER GOVERNMENTS DID WHAT THEY COULD WITH THE REMAINDER, BUT THIS GOVERNMENT IS DOING NOTHING. it's good to recover funds, but what is this government doing to improve the lots of her citizens...

May God strike all those who looted big with an incurable illness until they return their loots. amen

May HE punish those who defend them. amen

May HE PUNISH those who campaign for them. amen


May Jonathan never know peace till he seeks for forgiveness for his shameful role in this looting saga. Amen.

vedaxcool:
May God strike all those who looted big with an incurable illness until they return their loots. amen

May HE punish those who defend them. Amen.

god has started with buhari.
you his supporter is nest

[s]

tit:


god has started with buhari.
you his supporter is nest

[/s]

vedaxcool:
May God strike all those who looted big with an incurable illness until they return their loots. amen

May HE punish those who defend them. amen

May HE PUNISH those who campaign for them. amen


May Jonathan never know peace till he seeks for forgiveness for his shameful role in this looting saga. Amen.

simplyhonest:

I get your point of view. let's first remember that most of looting is/was carried out by people who have since decamped to the "saint" APC party. also, we are practicing a democracy similar to the presidential system of the USA, Obama didn't seat back and whine daily about how Bush ruined the economy, he did his own best.... Donald Trump is not busy chasing Obama's shadows, he is creating his own legacy. every government in the world is corrupt, the difference is they don't wash their dirty linen in public... let's even assume that all oil revenue before may 2015 was stolen,... what has the government done with the revenue from that period till now...
secondly, what other form of corruption is worse than appropriating over 2 billion naira to the hospital in Aso Rock in the last two budgets, yet the head of aso rock is in London on "medical vacation"....pls let's be unbiased and state the obvious, not the smokescreen that the government wants us to see.

did bush government stole money? So no need for Obama to disturbed himself for that ,
American system is working and they is no room for stealing like African

Jesusloveyou:
did bush government stole money? So no need for Obama to disturbed himself for that ,
American system is working and they is no room for stealing like African

wow... are you for real... the American government IS THE MOST CORRUPT GOVERNMENT in the world... just google and see for yourself... wow...

Achuwa1:
What about the corruption going on under this government,,,who is probing the likes of Amaechi,Tinubu,bachir lawal,fashola the website designer,fayemi that sold ekiti for 35 yrs & other Apc saints

Do me I do you time will come leave everything to God.

simplyhonest:

wow... are you for real... the American government IS THE MOST CORRUPT GOVERNMENT in the world... just google and see for yourself... wow...

you must be a kid or you must
be kidding.
it was this American system that make fashola to say he does not sign cheque.