Nigerian court blocks Shell’s accounts over alleged oil theft
Ben Ezeamalu: February 17, 2021The 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 involved 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.