Falana asks court to compel FG recover $40bn, N481bn

HUMAN rights activist, Femi Falana, SAN, has filed a suit at the Federal High Court in Abuja,

ABUJA—HUMAN rights activist, Femi Falana, SAN, has filed a suit at the Federal High Court in Abuja, seeking to compel President Muhammadu Buhari’s administration to recover the sum of $40 billion and N481 billion based on the audit of the Nigeria Extractive Industry Transparency Initiative, NEITI, an agency of the federal government.

Buhari, Falana
Femi Falana

In the originating summons, Falana asked the federal high court to grant the following reliefs: A declaration that by the express provisions of Sections 2 (a), (b) and 3 (f) of the Nigeria Extractive Industry Transparency Initiative Act, the first defendant is under a legal obligation to recover the unremitted sums of $22.06 Billion and N481.75 Billion Naira owed the Federal Government of Nigeria by the Nigerian National Petroleum Corporation , NNPC, the Nigeria Petroleum Development Company, NPDC, and other oil and gas companies operating in Nigeria.

That by the express provisions of Sections 2 (a), (b) and 3 (f) of the Nigeria Extractive Industry Transparency Initiative Act, the first defendant is under a legal obligation to recover the sum of $28Billion lost in revenues that are due to the Federal Government of Nigeria due to failure to review the terms of the 1993 Production Sharing Contracts “PSCs”with International Oil Companies, in line with Section 16 (2) of the Deep Offshore and Inland Basin Production Sharing Contract Act, Cap D3, Laws of the Federation, 2004.”

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A mandatory order of the court directing the first defendant to recover the unremitted sums of $22.06Billion and N481.75 Billion Naira owed the Federal Government of Nigeria by the NNPC, NPDC, and other oil and gas companies operating in Nigeria, among others.

In addition to the unremitted fund, Falana wanted the federal government to recover the sum of $28 Billion oil revenues lost due to the failure to review the terms of the 1993 Production Sharing Contracts “PSCs” in line with Section 16 (2) of the Deep Offshore and Inland Basin Production Sharing Contract Act, Cap D3, Laws of the Federation, 2004.

Falana who attached the audited reports of the NEITI to the supporting affidavit further stated that, “Nigeria is presently losing the much needed revenue due to the failure of the Federal Government to ensure that all payments due to the Federal Government of Nigeria from all extractive industry companies involved in the Production Sharing Contracts, including taxes, royalties, dividends, bonuses, penalties, levies and such like are duly paid to the Federal Government of Nigeria.”

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