Court Adjourns FG’s Suit Against Omokore, Aluko Over $1.7b Debt To September 29
A Federal High Court Lagos, has fixed September 29 to decide whether or not to stay further proceeding in a suit filed by the federal government against Olajide Omokore and Kolawole Aluko in order to recover the sum of $1, 762, 338, 184.40 billion.
The federal government and Nigerian Petroleum Development company Limited (NPDC ), and Nigeria National Petroleum corporation (NNPC) had dragged the two businessmen and their companies, Atlantic Energy Drilling concepts Nigeria Limited (AEDC) and Atlantic Energy Brass Development Limited (AEBD) seeking an order restraining them from dissipating all their known assets directly or indirectly.
The government had also prayed the court to restrain the defendants and their agents, and however called within and outside Nigeria from giving instructions, demanding, accepting or receiving payments from 19 commercial banks in Nigeria, eight offshore banks, and eight other companies listed before the court.
The trial judge, Justice Oluremi Oguntoyinbo had already issued an order restraining the defendants and their agents from demanding, receiving, transacting, mortgaging or whatsoever dealing in any manner with the assets of the defendants in banks, houses, land and shares in Nigeria and others located outside Nigeria, while the Nigerian banks listed in the motion papers were ordered to within seven days, sequestrate all money and negotiable instruments standing to the credit of the defendants in the sum of $1,762,338,184.40 billion, and keep same in an interest yielding account in the name of the Chief Registrar of the court as trustee of same pending the determination of the motion on notice.
The court also ordered that the order of the court should be served on the affected parties by way of advertisements in Newspapers circulating within and outside the Federal Republic of Nigeria.
Apart from a pending application filed before the court by Omokore and Aluko urging the court to stay proceeding of the suit on the ground that they have filed an Appeal against the ruling of the court, there is another pending application filed by a limited liability company, Virtual Properties and Investment Limited as an intervener.
The company is urging the court to discharge or vary its order, as it relates to Marion Apartments, on the ground that the property known as Marion Apartments located at Block 8 Plots 4&5 Onikoyi Estate, Banana Island, Ikoyi, Lagos consists of 56 apartments owned and developed by the intervener by virtue of two separate deeds of sublease.
The intervener also claimed that it conveyed its interest in 43 out the 56 apartments to Realblanc Energy Engineering limited, an affiliate company of the defendants.
The intervener still retains ownership of the 13 out of the 56 apartments in Marion Apartments, therefore the order of the court is prejudicial to its interest and interferes with its right of ownership over these flats.
The federal government, in an affidavit attached to the suit and sworn to by a legal practitioner, Oginni Isaac Kehinde, of Federal ministry of Justice, Abuja, averred that Olajide Omokore, Kolawole Aluko and their two companies are indebted to the Federal Republic of Nigeria in the sum of $1, 762, 338, 284.40 billion, on account of crude oil lifting under Strategic Alliance Agreements (SAT) between them and the Federal Government
Ogini averred that the defendants, by virtue of the agreement was granted license to lift crude oil and other associated products in Nigeria for sale and for parties to share the profits in agreed terms.
The defendants indeed lifted and sold the crude oil and have been paid but bluntly and deliberately refused to pay the Federal Government, rather they unlawfully diverted and converted the profits share due to the Federal Government in the sum of $1 ,762, 338, 184.40 billion to their private use.
The despondent listed the particular of diversion, as follows: Several vehicles with combined value of over N800 million were purchased by the defendants and donated to Peoples Democratic Party (PDP) through its National chairman, Prince Seconds.
Additional vehicles valued at over N130million were purchased by the defendants and distributed to former minister of Petroleum, Mrs Dieziani Alison Maduekwe and some other managerial staff of Nigerian Petroleum Development Company (NPDC).
He also stated that the sums of $18,548,619.99 million, and N1,070 million were paid to FBN Mortgages limited by Kolawole Aluko as part payment for block A consisting of 26 Flats at 46 Gerrard Road Ikoyi, Lagos, purchased at a total cost of N5, 210, 520,315 billion.
The deponent also stated that payment of a total sum of $25, 839, 606. 77 million, and N95 million, were made to Real Bank for the purpose of part financing the acquisition of the Atlantic Energy Drilling concepts Nigeria limited (AEDC) and Atlantic Energy Brass Development limited (AEBD) companies property as well as renovation of some properties.
Parts of the properties includes: Mason apartments, situated at 6, Gerrard Road, Ikoyi, Lagos, comprising 60 units of 3 bedroom apartments valued at $78 million; Marion apartments Block 8 located at 4&5,Onikoyi Estate, Banana Island, Ikoyi, Lagos, consisting of 43 units of apartments valued at $76,160 million; Renovation of apartment block at 33A Cooper Road Ikoyi, Lagos at a total cost of $4,937,750 million; and Renovation of the Admiralty Towers at 8, Gerrard road, Ikoyi, Lagos.
He also stated that the defendants made additional funds transfers among others to the tune of $69,912,981.15 million, made to several companies namely; Mia Hotels limited, First Motors limited,; V.I.Petrochemicals, Evergreen Reality & Management, WIz Trade limited, DE First Union Integrated Services and Amity Plus limited.
Ogini also averred that Kolawole Aluko literally took residence outside the shores of Nigeria in order to facilitate the diversion of the proceeds of the crude Oil lifted.
The venture which includes physical assets, cash in the bank and shares as at 2014 are as follows: Grove End Road, London; 755 Sarbone Road, Los Angeles; 952 North Alpine drive Los Angeles; 815Cima Del Mundo, Los Angeles; 807 Coma Del Mundo (Land); 1049 Fifth Avenue, New York; 1948&1952 Tolls Avenue, Santa Baraba; 157 West 57th St, New York 4100 Let Revenge, Dubai.
Others include; residences in Nigeria; Avenue Towers, Lagos Nigeria; land in Mont Tremblat, Canada; Colina D’oro Montagnola, Switzerland, while cash in bank accounts are as follows: LDT Switzerland -$25milion; Corner Bank, Lugano, Switzerland -$1 million; Deutsche Bank, Geneva -$40million; HSBC London $175,000.
While investment in shares are as follows; 75 percent shareholding in Atlantic Energy Drilling concepts Nigeria and Atlantic Energy Brass Development; 10 percent Shareholding in Seven Energy.
Other Holdings include: Galactica Star; 20 Year Berth Lease -Barcelona; watch Collection; Car Collections (58 Vehicles); Aeroplane-Global Express S5-GMG; Aeroplane-Bombardier Global 6000 9H-OPE; Aeroplane Bombardier.
The deponent consequently urged the court, as a matter of utmost urgency and public interest, in aid of administration of Justice, to issue a worldwide Mareva Order, restraining the defendants from dissipating all known assets directly or indirectly by the defendants including, but not limited to, assets listed on the face of the motion paper filed before the court.
