A Federal High Court Lagos on Thursday, adjourned until June 19, hearing in a debt recovery case filed by the Federal Government, against Shell Western Supply & Trading Ltd, over alleged 406.7 million dollars shortfall in Crude Oil shipment.
The suit was filed by FG’s counsel, Prof Fabian Ajogwu, SAN which has as defendants, Shell Petroleum Development Company of Nigeria Ltd and its subsidiary, Shell Western Supply & Trading Ltd.
The Federal Government is claiming the sum of 406.7 million dollars, from the defendants, representing the shortfall of money it paid into the Federal Government account with the Central Bank of Nigeria.
In a supporting affidavit, the FG had accused the Anglo-Dutch company of not declaring or under-declaring crude oil shipments during the period.
It said that this was following forensic analysis of bills of laden and shipping documents, alleging that Shell cheated Nigeria of deserving revenue.
They also revealed discrepancies in the export records from Nigeria with the import records at United States ports.
Plaintiff averred that the undeclared shipments between January 2013 and December 2014 brought the total value of the entire shortfall to 406.75 million dollars.
The defendants were alleged to have failed to respond to a Federal Government letter through its legal representative, seeking clarification as to the discrepancies.
The Federal Government, is therefore, seeking a court order to compel the two companies to pay 406.7 million dollars, being the total value of the missing revenue and interest payment at 21 per cent per annum.
In addition, the government is also asking Shell to pay general damages in the sum of 406.7 million dollars as well as the cost of the legal action.
(NAN)