Justice Mojisola Olatoregun of a Federal High Court in Lagos has dismissed a 55 million dollars debt recovery suit by the Federal Government against Agip Oil company over undeclared crude oil shipment.
The suit was filed in 2016 by FG counsel, Prof. Fabian Ajogwu, SAN, seeking to recover almost 12 billion dollars in missing crude oil revenue from some international oil companies.
The plaintiff is claiming the sum of 55 million dollars against Agip, representing a shortfall in the amount of excess crude oil lifted out of Nigeria, onboard the vessel MT Cosmos.
The court dismissed the suit on grounds of insufficient evidence.
(NAN)