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Court dismisses Chinese oil company’s bid to void $100 million judgement over OPL 471 dispute

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A Federal High Court in Port Harcourt, Rivers State, has dismissed an application by China National Petroleum Corporation seeking to set aside a $100 million judgement awarded to Cutra International Limited over the disputed ownership of Oil Prospecting Licence (OPL) 471.

OPL 471 is located in the shallow offshore, western Niger Delta of Nigeria

In a ruling delivered on 24 April, Justice Adamu Mohammed held that the Chinese oil firm failed to show sufficient grounds for the court to vacate its earlier judgement delivered on 23 May 2025.

The judge dismissed the application entirely, ruling that the court had become “functus officio” after delivering its judgement and finding that the originating summons and hearing notices had been properly served on the company.

The dispute arose from the award of OPL 471 by Nigeria’s Ministry of Petroleum Resources to both companies in June 2006.

In the substantive judgement delivered last year, the court held that Cutra International was entitled to a 10 per cent equity participation in the oil block as the local content vehicle in the deal.

Mr Mohammed said the Chinese firm did not controvert the facts presented by the plaintiff regarding the award of the oil block and the company’s stake in it.

“By that letter, the plaintiff was the local content vehicle for OPL 471, and the equity participation for the plaintiff is 10 per cent,” the judge held.

Although the court declined to grant Cutra International the full amount of its claims due to insufficient evidence supporting certain claimed expenses and damages, it awarded the company $100 million in damages against CNPC.

In its application to set aside the judgement, CNPC argued that the suit was statute-barred, the originating summons had expired, and that the substituted service ordered by the court was defective because it involved a foreign company.

However, Mr Mohammed rejected the arguments, noting that the court had earlier renewed the originating summons in May 2024.

The judge also held that CNPC failed to establish any convention between Nigeria and its home country that would render Order 6, Rule 20, of the Federal High Court Rules applicable in the matter.

“Based on the foregoing decisions of this court, I am of the view that it will not be in the interest of justice to grant any of the reliefs sought in the instant application, and it is accordingly dismissed,” the judge ruled.

 

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NAICOM Reaffirms Support for Takaful Growth ahead of Noor Takaful’s 10th Anniversary

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BY NKECHI NAECHE-ESEZOBOR—The National Insurance Commission (NAICOM) has restated its commitment to nurturing the growth of Takaful and micro insurance in Nigeria, positioning them as vital tools for financial inclusion.

The Commissioner for Insurance, Olusegun Ayo Omosehin, disclosed this today when the Board and Management of Noor Takaful led by the Chairman of the Company, Amb. Shuaibu Ahmad, visited  the commission.

Speaking during the visit, the Commissioner for Insurance commended the company’s progress and urged greater ambition in expanding market reach, driving product innovation, and raising public awareness.

As Noor Takaful approaches its 10th anniversary, the Commissioner encouraged the leadership to accelerate outreach and customer education, highlighting Takaful’s role in broadening access to protection for underserved communities.

Both institutions expressed optimism about strengthening collaboration to promote trust, innovation, and inclusive insurance for all Nigerians.

The post NAICOM Reaffirms Support for Takaful Growth ahead of Noor Takaful’s 10th Anniversary appeared first on Business Today NG.

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Aviation workers threaten nationwide protest over unpaid ticket sales charges

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Nigeria’s aviation workers have issued a fresh seven-day ultimatum to airline operators and other organisations that have failed to remit the statutory five per cent Ticket Sales Charge (TSC), warning that they will embark on nationwide picketing if the outstanding debts are not settled.

The notice, jointly issued by the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) and the National Union of Air Transport Employees (NUATE), follows the expiration of an earlier 14-day ultimatum served on 8 July, which lapsed on 23 July without compliance from the affected operators.

The five per cent Ticket Sales Charge is a statutory levy imposed on every airline ticket sold in Nigeria. The proceeds are remitted to the Nigeria Civil Aviation Authority (NCAA) and shared among aviation agencies to fund regulatory oversight, safety, security and other statutory responsibilities.

The latest warning comes months after airline operators announced they would no longer collect and remit the five per cent Ticket Sales Charge on behalf of the NCAA, arguing that the arrangement had become unsustainable. PREMIUM TIMES reported at the time that the decision raised concerns over the funding of aviation agencies and the future administration of the statutory levy.

In a statement jointly signed by ATSSSAN General Secretary, Frances Akinjole, and NUATE Deputy General Secretary, Odinaka Igbokwe, the unions accused defaulting operators of failing to remit the charges despite repeated warnings.

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“Our earlier 14-day ultimatum has expired, and regrettably, willful non-compliance has been recorded,” the unions said.

According to them, the continued failure to remit the statutory deductions is depriving aviation agencies of funds required to carry out their responsibilities effectively.

“The aviation agencies remain starved of the required funds to keep our skies safe, while the conditions of service of our members in the various agencies continue to be jeopardised because of the non-remittance of the Ticket Sales Charge,” the statement added.

The unions argued that the prolonged withholding of the funds has weakened the financial capacity of the agencies and adversely affected workers’ welfare.

They warned that the situation could ultimately pose risks to aviation safety and security.

“This unnecessary demotivation factor to the air transport worker is a security and safety risk,” they said.

Declaring that they could no longer remain passive, the unions issued what they described as a final seven-day notice to all defaulting airline operators and other indebted organisations.

READ ALSO: NCAA threatens sanctions as Royal Air Maroc allegedly defies regulatory authority

“We can no longer helplessly fold our hands and allow the safety of our airspace to remain compromised,” the statement said.

It added: “We hereby issue a seven-day notice to every TSC defaulter to remit the total debt owed to the agencies. Failure to do so will result in our unions taking concrete actions at their various premises.”

If the dispute remains unresolved after the expiration of the ultimatum, the planned picketing could disrupt airline operations and other aviation activities nationwide, adding to recent operational challenges in the sector.
Neither the Airline Operators of Nigeria (AON) nor the NCAA had publicly responded to the unions’ latest ultimatum as of the time of filing this report.


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