" ITREALMS: Court Judgement: NLNG requests $315m debt from NIMASA


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Wednesday, October 18, 2017

Court Judgement: NLNG requests $315m debt from NIMASA

The management of Nigerian Liquefied Natural Gas (NLNG) has formally applied for the sum of $315,598,823.29, the judgment debt to the Nigerian Maritime Administration and Safety Agency (NIMASA), reports ITRealms.

This follows the recent judgement on October 3, 2017 by the Federal High Court in Lagos in favour of NLNG and against NIMASA, and that all such payments already made by NLNG to NIMASA should be refunded immediately.

The sum, ITRealms reports, represents the payments made under protest to NIMASA by NLNG since 2013, via direct and shipping losses incurred by NLNG due to the initial 2-day blockade of the Bonny Channel by NIMASA in May 2013.

The Court Presided over by Hon. Justice M. B. Idris had held that NIMASA was wrong in blocking the Bonny Channel for the purpose of enforcing the payments against NLNG.

Commenting on the development, General Manager External Relations of NLNG, Dr. Kudo Eresia-Eke described the Federal High Court ruling transcending above simply but legal victory for NLNG.

“It must be viewed for what it really is: A resounding message from Nigeria to the global investment community. The message is that we can be trusted to keep our sovereign word and that Nigeria remains open for business, partnership and investments,” he said.

Uboshe Uboshe/GEE
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