A Federal High Court in Abuja has restrained the federal government from taking steps to freeze the bank accounts and business operations of AITEO Eastern E & P Company Ltd.

Justice Gabriel Kolawole yesterday ordered parties to maintain status quo in the business operations of the company pending the determination of the main suit before the court.

The judge summoned the Attorney General of the Federation (AGF) and the Economic and Financial Crimes Commission (EFCC) to appear before the court on December 18 to show cause why the ex parte application by Aiteo should not be granted.

Aiteo had in the application by its counsel, Mike Ozekhome (SAN), sought a preservative order of interim injunction restraining the federal government from “interfering with or obstructing the business operations, activities and undertakings of the plaintiff, either by way of embargoing or freezing any of its accounts or obstructing its activities in any way or manner whatsoever.”

AITEO is a Limited Liability Company, a major player in the upstream sector of the Nigerian oil industry, as well as the joint/operator of oil mining lease (OML) 29, an asset which is jointly owned by it and the federal government through the NNPC, which subscribes to 55% of the said asset.

SOURCE

dailytrust.com.ng

08 December, 2017

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