when you don't keep your house in order a stranger wouldn't mind throwing dirt on the ground.


Why am i saying this;

the federal government has been lacklustre over time in managing its finances hence these multinational companies are capitalising on the corruption of the government to perpetuate theirs.

That's why I said - Sai Baba . God bless PMB

Thank u now gerarahie.. This buhari fg is a big shame and a disgrace

Our people says when lies goes on for decades just in one day the truth will be revealed, the stealing of the country's oil wealth by these multinational companies has been going on for decades all in connivance with the NNPC officials and the likes now that the truth is now being revealed some wailers are still opening their wild mouth to say no.

Adminisher:
He don Tey wey dem dey steal dis country. No person like Jonathan should be made President again. The work requires hardness

Many Nigerians are really not wise. Imagine multinationals stealing from your country and govt is taking actions, yet sew comments up there. A lot of dumb yoots around menh....disgusts me!

Former president johnathan seem to be the dumbest president Nigerian av ever elected, under his watch, such a huge amount was stolen. I believe this is just a tip of the iceberg .

progress69:


Many Nigerians are really not wise. Imagine multinationals stealing from your country and govt is taking actions, yet sew comments up there. A lot of dumb yoots around menh....disgusts me!

Am not surprise anymore, i av learned to realize that common sense is not common. Dont mind them

AfroBlue:
Courtesy of The Guardian http://guardian.ng/news/fg-sues-agip-total-for-635m-over-undeclared-cargoes/

this issue, case, and news bears watching!




FG sues Agip, Total for $635m over undeclared cargoes





Cash-strapped Nigeria’s Federal Government is demanding $635million from two multinational oil companies, Agip and Total for undeclared crude oil shipped out of the country between 2011 and 2014.

Two cases have been filed at the Federal High court in Lagos by senior lawyer and Senior advocate of Nigeria, Professor Fabian Ajogwu, who had handled several cases for the Federal Government on aviation, defence, energy, and financial services.

Hearing will begin next week before Justice Olatoregun Isola.

And there are indications that Ajogwu will also be filing claims against other multinationals, such as Chevron and Exxon-Mobil
The Nigerian Government in the two cases is claiming $490,517,280 from TOTAL E&P NIGERIA LIMITED and $145,848,102 from NIGERIA AGIP OIL COMPANY LIMITED.

The statements of claim filed before the court are accompanied by the sworn affidavits of three US based professionals.

The Nigerian Government contends that sometime in 2014,it realised a decline in its oil export revenue. This necessitated an intelligent gathering of data, which showed that part of the reasons for the decline was the under-declaration of crude oil shipments made by some major oil and gas companies operating in Nigeria.

Professor David Olowokere, a US citizen who is the lead Analyst at Loumos Group LLC, a technology and oil and gas auditing firm based in United States of America, Jerome Stanley, a counsel in the law firm of Henchy & Hackenberg, a law firm based in United States of America and head of the legal team engaged by Loumo Group LLC, made the court statements.

The third deponent is Micheal Kanko a citizen and resident of the State of Arizona United States of America, who is the founder and the current Chief Executive Officer of Trade Data Services Company.

A forensic analysis of export records from Nigeria and the import records from respective ports of entry at the United States of America used by Agip and Total showed discrepancies.

The volume of crude Oil declared to have been exported from Nigeria, was less than what was declared to have been imported into United States of America via the same shipment by the same vessel on the same bill of lading.

Some other shipments were not declared by the defendants to the requisite authorities, particularly the pre-shipments inspection agents. In some instances, the crude oil shipments were completely undeclared.

The plaintiff (Nigeria Government ) alleged further that all crude oil and gas shipments /exports from Nigeria are required to be declared and inspected by pre -shipment Agents appointed by the Central Bank of Nigeria of revenue due from the crude oil shipments.
The inspection records are to be deposited with ministry of finance Nigeria .

The Nigeria Government averred that high-technology information technology system including satellite tracking systems were deployed by consultants in gathering the various validated information establishing the shortfalls in the export declarations and the import declaration in the country of destination.

Court documents showed that 57 million barrels of Nigeria crude oil was illegally exported by TOTAL E&P NIGERIA LIMITED, NIGERIA AGIP OIL COMPANY, CHEVRON and other companies and sold to buyers in the United States of America between January 2011 and December 2014. The revenue due to Nigeria as a result of this under-declaration and non-declaration is $12,722,600,327($12.7billionDollars) which translates to N2,493,629,664,092(2.5Trillion Naira) at an official rate of 197 Naira to one US Dollar

In one of the instances cited, TOTAL E&P NIGERIA LIMITED shipped crude oil using a vessel by name TRIATHLON to Tostsa Total oil Trading SA of San Felipe Plaza-Suite 2100,5847SAN FELIPE, 770557-HOUSTON United States at the port of Philadelphia, Pennsylvania, United States of America with a bill of lading number TCVMTRIATIA 1388. The shipment was not declared to the relevant authorities resulting in the shortfall of 968,784 barrels of crude oil in the value of $106,566240 as revenue to the Government,

Another under-declared crude oil was estimated at 491,850 barrels with a value of $54,103,500. It was shipped aboard a vessel named NORTH STAR and sold to BP Products North America of 501 Westlake Park Boulvard, Houston, TX 77079 United States, at port of Texas City, with bill of lading DROESVD23091101.

On two different occasions 768,990 barrels of crude oil, valued at $84,588,910 was loaded on a vessel named AUTHENTIC. It was Shipped to Socap international limited of Cannon’s court, 22 Victoria Street, Hamilton, HM12.Bermuda at the port of Chester Pennsylvanian, United States bill of lading ALMYSVDM17041101 and17041102

The Nigerian government seeks an order of the court compelling Total E&P Nigeria Limited to pay into the FEDERAL GOVERNMENT OF NIGERIA account with the Central Bank of Nigeria, $245,258,640 being the total value of the missing revenues from the shortfall /under-declared/undeclared crude oil shipments of the Federal Government of Nigeria.

Government also wants the oil firm pay General damages of $245,258,640 and Interest on the said sum at the rate of 21 percent per annum until the entire sum is liquidated.

The case has been adjourned till next week for hearing .

In a separate suit, the Federal Government of Nigeria alleges that NIGERIA AGIP OIL COMPANY LIMITED on 16 June 2014 lifted crude oil on board the vessel named VALUE. The firm shipped the cargo to Philadelphia Energy Solutions of 1735 Market street Philadelphia, PA USA at the port of Wilmington, Delaware, United States of America with Bill of lading number SEUK9HA21304143.

Government claims that the shipment was not declared to relevant authorities resulting in the shortfall of 175,334 barrels of crude oil in the value of $38,573,561as revenue to Federal Government of Nigeria.

On 27 June,2011,Nigerian Agip Oil Company limited lifted crude oil on board a vessel named COSMIC and shipped same to ENI TRADING &SHIPPING B.V. of Strawinskylaan 1641-Tower C/16 1077C XX. Again, government claims that the shipment was not declared to the relevant authorities resulting in a shortfall of 467,614 barrels of crude oil in the value of $107,274,990 as revenue to the Federal Government

Despite letters written by the legal representative of the Federal Government for payment of the shortfall, the company had failed to make any payments to the Federal Government.
The Federal Government of Nigeria now claims against Nigeria Agip Oil company limited:

*An order compelling the company to pay into Federal Government of Nigeria ‘so account with central bank of Nigeria the total sum of $145,848,551being the total value of the missing revenues from the shortfall/under declared/undeclared crude oil of the Federal Government

*Interest at the rate of 21percent per annum until the entire sum is liquidated.

*General damages in the sum of $145,848,551.and the cost of this legal action.

There are imminent claims against other Oil exploration companies including Chevron.

I was waiting for this. I was hoping to see how Nigeria would handle this and what those oil majors would do.

Make them pursue the remaining investors, then we go start to eat ourselves, yeye government wey no know left from right

sportskid:
Agip and Total will soon leave Nigeria too. This is really a Legalistic Government

Those companies will never leave except govt forces them to leave.

bettercreature:

Best post of the thread

banio:


Those companies will never leave except govt forces them to leave.

push them hard enough and tehy will call your bluff

ehie:
push them hard enough and tehy will call your bluff

And they will be replaced.
Is our self esteem so low in this country?

The EU just taxed Apple $14 billion.

http://www.nytimes.com/2016/08/31/technology/apple-tax-eu-ireland.html?_r=0

princemillla:
Nawa oo.... Sometime I wonder if some commenters on nairaland really got sense. Some group of companies dupe us and none could profer sensible comments.

And theses same set of people want this country to transform for better?
I support fg on this one. In a saner country, we would all troop out to profess ou stand infront if the court .

Many of those who rush to comment on the first page are kids who are fast with their key boards, sometimes the real sense makers are on page 3.
This multinationals have stolen so much from us and thats one key reason many Nigerians were angry at PMB for castigating us as thieves in front of them during his travels abroad, but he seems to be learning fast now.
Every effort must be put into ensuring that this looted cargoes are recovered. We must know how much Crude we export and not wait for some oyinbo man to declare whatever he wishes

Guyman02:


Many of those who rush to comment on the first page are kids who are fast with their key boards, sometimes the real sense makers are on page 3.
This multinationals have stolen so much from us and thats one key reason many Nigerians were angry at PMB for castigating us as thieves in front of them during his travels abroad, but he seems to be learning fast now.
Every effort must be put into ensuring that this looted cargoes are recovered. We must know how much Crude we export and not wait for some oyinbo man to declare whatever he wishes

God bless you brother. At last, relieving comment.

AZeD1:

And they will be replaced.
Is our self esteem so low in this country?

The EU just taxed Apple $14 billion.

http://www.nytimes.com/2016/08/31/technology/apple-tax-eu-ireland.html?_r=0

replaced by who, how much was pulled out after the MTN fine by the multinationals, is it not why your president is junketing around bowl in hand looking for the illusionary aid..

ehie:
replaced by who, how much was pulled out after the MTN fine by the multinationals, is it not why your president is junketing around bowl in hand looking for the illusionary aid..

Lesson 1 of life:
Nobody is irreplaceable. If Total and Agip pull out, lots of companies including local ones will take their place.

After the fine, why has MTN not pulled out?

Guyman02:


Many of those who rush to comment on the first page are kids who are fast with their key boards, sometimes the real sense makers are on page 3.
This multinationals have stolen so much from us and thats one key reason many Nigerians were angry at PMB for castigating us as thieves in front of them during his travels abroad, but he seems to be learning fast now.
Every effort must be put into ensuring that this looted cargoes are recovered. We must know how much Crude we export and not wait for some oyinbo man to declare whatever he wishes

they are thieves, they are these, that they are that, yet their dollars make your economy, their companies give your country men jobs,their presence develop your economy, shebi 30 percent have gone, and the economy is already down on its knees. we are no longer the beautiful bride that suitors come for, oil is cheap, America is producing shale, th west got rid of the leaders and created factions and instability that make Libiya and Iraq sell oil cheaply, so what else is the lure of Nigeria, Instability, Insecurity,Bad economic policies and environment, multiple taxatilon, lack of power, unskilled labor, what makes u think we are so special, if you still think so, you are living in past glory

Undeclared cargoes ? Agip and Total are two companies that aren't keen on LPG rather PMS, how many days were given for loading nomination before certifying the shipment cargo undeclared ?

Total and Agip have not even been FG affiliates unlike NNPC,NLNG etc..

AZeD1:

Lesson 1 of life:
Nobody is irreplaceable. If Total and Agip pull out, lots of companies including local ones will take their place.

After the fine, why has MTN not pulled out?

find the companies now, is it Nigerian companies that you frustrate with high tax rate, high interest rate and no capital injection, is it the small scale entrepuneurs that government demolishes their business premises, do they actually aid small scale business in tyhis countries, or foreign companies that would rather be in Bein or Togo, find the millions that will take their place now i dare you..yeye dey smell..mumu government who wish that 2 +2 will equal 10 instead of knowing wishing and daring are different from reality

ehie:
they are thieves, they are these, that they are that, yet their dollars make your economy, their companies give your country men jobs,their presence develop your economy, shebi 30 percent have gone, and the economy is already down on its knees. we are no longer the beautiful bride that suitors come for, oil is cheap, America is producing shale, th west got rid of the leaders and created factions and instability that make Libiya and Iraq sell oil cheaply, so what else is the lure of Nigeria, Instability, Insecurity,Bad economic policies and environment, multiple taxatilon, lack of power, unskilled labor, what makes u think we are so special, if you still think so, you are living in past glory

I get your point, lets just tell them to do what they like and they can pay whatever they feel like as taxes abi?

ehie:
find the companies now, is it Nigerian companies that you frustrate with high tax rate, high interest rate and no capital injection, is it the small scale entrepuneurs that government demolishes their business premises, do they actually aid small scale business in tyhis countries, or foreign companies that would rather be in Bein or Togo, find the millions that will take their place now i dare you..yeye dey smell..mumu government who wish that 2 +2 will equal 10 instead of knowing wishing and daring are different from reality

They are 170 millions reasons why companies want to come to Nigeria. If you've ever tried to do serious business, you'd know that.

princemillla:
Nawa oo.... Sometime I wonder if some commenters on nairaland really got sense. Some group of companies dupe us and none could profer sensible comments.

And theses same set of people want this country to transform for better?
I support fg on this one. In a saner country, we would all troop out to profess ou stand infront if the court .

I can't help but wonder at times. Comments here sometimes are very irritating.

kings09:
Did the Op say govt is cash-strapped? D same govt dat d presidency collected over #2.3billion in salaries n allowances, d same govt dat went wit over a 100-man delegation to the UNGA, same govt dats wch d NASS is bn paid billions dats mostly undisclosed. Hahahaha. Even if they get all diz millions of dollars back, can we ever trust dis govt not to loot it?

are you not happy that we are trying to recover over $600m that the ineffectual buffoon failed to recoup? ??ethnic hatred has made you to forget the principal topic . Must you always rant to find a fault? I doubt if some of you guys are really Nigerians because of the rate that you guys refuse to want any good news from Nigeria. On a side note,your ineffectual buffoon went to the UNGA with over "300" delegates,this is a fact!

R0ckefeller:
fg should stop acting like nigeria is broke

See your mumu statement!So we should just let an undeclared $600m to go like that??just because you don't want us to act broke??How old are you anyway??

princemillla:
Nawa oo.... Sometime I wonder if some commenters on nairaland really got sense. Some group of companies dupe us and none could profer sensible comments.

And theses same set of people want this country to transform for better?
I support fg on this one. In a saner country, we would all troop out to profess ou stand infront if the court .

I really do wonder if these ppl are REALLY Nigerians.

tiger28:
See your mumu statement!So we should just let an undeclared $600m to go like that??just because you don't want us to act broke??How old are you anyway??

man you are funny.

deadie:

Really? Your country was duped and this is all you have to say? smh

what did you expect me to say.

baruzeez:
please take ya time to read and assimilate

ok bro

APC stifling the economy more...them no get sense at allll
...tufiakwa

princemillla:
Nawa oo.... Sometime I wonder if some commenters on nairaland really got sense. Some group of companies dupe us and none could profer sensible comments.

And theses same set of people want this country to transform for better?
I support fg on this one. In a saner country, we would all troop out to profess ou stand infront if the court .

Imagine the quality of sense and degrees shunned out by parents and respective universities, there is serious fire on the mountain with this set of zygote around the internet.

Well, I don't blame them, it was their son who was in charge then and Na their oil as they unintelligently quipped.

transient123:


Imagine the quality of sense and degrees shunned out by parents and respective universities, there is serious fire on the mountain with this set of zygote around the internet.

Well, I don't blame them, it was their son who was in charge then and Na their oil as they unintelligently quipped.

Did you noticed one of them told me "wettin concern me" as if other state generation don't go into their pocket