$62bn oil deals: Falana threatens Malami over recovery of debts

Human rights lawyer, Femi Falana has threatened to sue the Attorney-General of the Federation, AGF and Minister of Justice, Abubakar Malami if he fails to recover $62 billion from international oil companies as ordered by the Supreme Court.

Falana said this in a letter written on behalf of Professor Omotoye Olorode and Jaye Gaskia of the People’s Alternative Political Movement to the AGF titled, “Request for Compliance with 2018 Judgment of the Supreme Court of Nigeria in suit between Akwa Ibom and Two Others and Attorney-General of the Federation”.

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In the said judgement, the apex court had directed the Federal Government to recover all revenues lost to oil-exploring and exploiting companies due to wrong profit-sharing formula since August 2003 and also requested for the immediate payment of the sum of $62 billion owed by 6 international oil companies with joint operating agreements with the Nigerian National Petroleum Corporation, NNPC. The affected companies include Shell Petroleum Development Company, Mobil Producing Nigeria Unlimited, Chevron Nigeria Limited, Nigeria Agip Oil Company, TotalElf Nigeria and Pan Ocean Oil Company.

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Falana stated that rather than ensure that the judgment was enforced, the Minister of State for Petroleum, Timipre Sylva, claimed that government would not be able to recover all the $62 billion.

Falana asked the AGF to ensure that the said sum of $62 billion is recovered from the oil companies and paid into the Federation Account without any further delay otherwise a suit would be instituted forcing him to do so.

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