Thursday, June 30, 2022
Home Law Abuja Electric crisis deepens as parties disagree over mediator

Abuja Electric crisis deepens as parties disagree over mediator

Parties in the controversial takeover of the Abuja Electricity Distribution Company (AEDC) on Thursday disagreed over appointment of a mediator in the bid to settle out of court.

Counsel for the plaintiffs, Adeyinka Aderemi, made this known while praying Justice Inyang Ekwo for another adjournment to allow the parties explore the reconciliation move.

Justice Ekwo had, on Feb. 16, adjourned the matter to allow parties settle the case out of court.

The judge then fixed April 25 for report of the settlement but on the adjourned date, the matter did not hold.

CEC Africa Investments Limited and KANN Utility Company Limited had sued the Attorney General of the Federation (AGF) and Central Bank of Nigeria (CBN) as 1st and 2nd defendants over the Federal Government’s directive for the company’s  takeover.

Also joined in the suit, marked: FHC/ABJ/CS/1557/2021, dated and filed on Dec. 8, 2021, include the BPE, Ministry of Finance, AEDC, United Bank for Africa (UBA) and United Capital Trustees Limited as 3rd to 7th defendants respectively.

The plaintiffs had sought an order restraining the AGF, CBN, BPE and Ministry of Finance from interfering with the operations and management of AEDC .

They also sought an order, restraining the AGF, CBN, BPE and the Finance Ministry from taking any steps which may transfer or forfeit or reduce, or takeover the 60 per cent shareholding of the 2nd plaintiff in AEDC in any manner or limit the 2nd plaintiff ability to exercise its full rights over the shares pending the hearing and determination of the matter.

Upon resumption of the matter, Aderemi informed that the case was adjourned for report of settlement and that parties had been discussing on the subject.

The lawyer, however, said that the plaintiffs received a letter from counsel for the 7rh defendant (the United Capital Trustees Limited), Wole Olanipekun, SAN, rejecting a mediator that was appointed.

“We got a letter to that effect from office of Wole Olanipekun that the mediator appointed was unaccepted,” he said.

Aderemi subsequently sought for another adjournment to afford parties further opportunity to explore out-of-court settlement and lawyers to the other parties did not object the application.

Justice Ekwo then adjourned the matter until Sept. 26 to allow for conclusion of the report of settlement.

RELATED ARTICLES

‘Missing N11trn electricity fund’: SERAP sues Buhari

Nigerian cities have repeatedly been plunged into darkness as the electricity grid has reportedly collapsed at least three times in 5 months, and 130 times in 7 years.

Senate probes Shell, demands $200m refund to Nigeria

The Ad Hoc committee was mandated to investigate the Oil Mining Lease (OML) granted to SPDC between 1959 to 1989, and 1989 to 2019 under the SPDC and NNPC Joint Venture agreement.

Track your estimated electricity bills to reduce disrepancies -FCCPC

The Commission in its official Twitter handle on Sunday advised electricity consumers to always check their monthly bills for tariff band (expected hours of daily power supply).

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Crude oil price to soar past $200/barrel

Bjarne Schieldrop, SEB analyst, said on Wednesday in no uncertain terms that the G7’s price capping proposal was a “recipe for disaster” given the current stress that the oil market is under.

Bridging claims, freight: FG pays N74bn to Marketers

The Authority in a statement, explained that the Authority paid N71,233,712,991 bridging claims and another N2,736,179,950.84 freight differentials to the Marketers as at 6th June, 2022

Why cooking gas price won’t come down- Kyari

“The world has never seen this kind of uncertainty, today countries are stockpiling products".

Reps to probe NNPC fuel subsidy claim of N2trn

In his motion, Ogun said he was informed that as of 2002, the NNPC purchased crude oil at international market prices, which stood at 445,000 barrels per day.

Recent Comments