Nigerian court blocks Shell's accounts over alleged oil theft
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Nigeria, Feb. 17 -- The Federal High Court in Lagos has granted an interim mareva injunction directing commercial banks to block Shell Petroleum Development Company of Nigeria Ltd accounts.
A mareva injunction is a court order freezing a party's assets, until the determination of a case they are invloved in, to stop them from taking it abroad.
The order was in a bid to recover the cash equivalent of more than 16 million barrels of crude oil allegedly diverted by the oil giant from AITEO Eastern E & P Company Ltd.
Oluremi Oguntoyinbo, the judge, gave the order Wednesday following an ex parte application where AITEO Eastern E & P Company Ltd is the plaintiff/applicants and SPDC Ltd is the first defendant.
Joined in the suit are Royal Du...
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