A Lagos High Court, Ikeja Judicial Division, will commence the trial against international oil company, Trafigura Baheer BV, and her Nigerian counterpart, Trafigura PTE Ltd on a three-count charge bordering on corporate international conspiracy that led to the insolvency of a Nigerian financial institution, Spring Bank, which financed the deal.
Joined as defendants in the case are two Nigerians, Yusuf Yahaya Kwande, and Osahon Asemota. The other companies that are defendants include Mettle Energy and Gas ltd, Renbrandt Ltd, and JIL Engineering and Oil Services Ltd, and it involved 10,000 metric tonnes of Automotive Gas Oil (AGO) valued at N200 million.
After 10 years of international investigation, the Economic and Financial Crimes Commission (EFCC) instituted a suit against Messrs Trafigura Baheer BV, Yusuf Yahaya Kwande, Mettle Energy and Gas Ltd, Renbrandt Ltd, Trafigura PTE Ltd, and Osahon Asemota on a three-count charge of conspiracy to commit felony to wit. The trial will be presided over by Justice Mojisola Dada of the Special Offences Court, Ikeja.
Count one alleged that Messrs Trafigura Baheer BV, Yusuf Yahaya Kwande, Mettle Energy and Gas Ltd, Renbrandt Ltd, And Osahon Asemota, some time in 2008 in Lagos, within the jurisdiction of the court, conspired together to commit felony to wit: stealing of about 6,425,271 metric tonnes of Automotive Gas Oil (AGO) worth about $8,442,806.094, property of Nadabo Energy Ltd, which was under the legal custody of Spring Bank Plc, Victoria Island, Lagos.
Count two read: “Messrs Trafigura BV, Yusuf Yahaya Kwande, Mettle Energy and Gas Ltd, and Osahon Asemota between 12th October 2008, and 15th December, 2008 at the office of Trafigura Baheer BV, 20, Sinari Daranijo Street, Victoria Island, Lagos within the jurisdiction of this honourable court, stole, by fraudulently converting to your own use and benefit, about 6,425,271 metric tonnes of Automotive Gas Oil (AGO) worth about $8,442,806.094 property of Nadabo Energy Ltd.”
Trafigura is a multinational commodity company that trades in base metals and energy.
