Sunday, August 3, 2025

The Truth Banishes Fear!

Contempt Charge Slammed On CBN Governor Over N182 Billion Ogoni Claims

'Dotun Akintomide
Writer
CBN Rewards Plateau Farmers For Paying Loans on Time

Ad

The Hidden Signals in Oil Markets

Asia’s oil demand is growing faster than major agencies forecast, led by India and Southeast Asia’s emerging economies. China is rapidly restructuring its supplier base, favoring Brazil while cutting ties with U.S. energy. Kazakhstan’s refining expansion and chronic overproduction raise major questions about its future in OPEC+. I’ve been following the oil market closely this…

Oil Falls Below $70 as Sentiment Sours

A poor U.S. jobs report led to a broader sell-off on Friday, with leading stock indices falling from record highs. Friday, August 1st, 2025 Buoyed by Trump’s Russia threats and news of Indian state refiners curbing purchases of Russian crude, crude oil futures have been trending above $70 per barrel throughout the week, settling on…

Ad

From Ameachi Prosper (The New Diplomat’s Delta Correspondent)

A contempt charge has been instituted against the governor of the Central Bank of Nigeria, Godwin Emefiele over his alleged refusal to order the payment of N182 billion to Ogoni people in Rivers State.

The N182 billion was awarded against oil giant, Shell Petroleum Development Company over the oil spillage experienced by the Ogoni people as a result of the activities of the company.

The plaintiffs represented by Lucious Nwosu, a Senior Advocate of Nigeria (SAN), filed the contempt charge urging the Federal High Court in Abuja to commit the CBN governor to prison for allegedly disregarding an order of court that awarded the money to the aggrieved Ogoni people.

At the hearing of the suit, on Wednesday, counsel to the Ogoni people expressed displeasure over the absence of the CBN governor.

He reiterated that the charge against Emefiele was semi criminal in nature and warranted his physical presence in court.

But, the lawyer to the CBN governor, Damian Dodo however informed the court that it was not the habit of his client to underrate any court of law and assured that Emefiele will do the needful at the appropriate time.

The counsel representing Shell Petroleum Development Company, Olawale Akoni informed the court that he had filed a motion praying the court to dismiss the contempt charge or in the alternative to stay proceedings after taking arguments.

Justice Taiwo Taiwo while adjourning the matter till January 26, 2021 directed the CBN governor and other parties to obey court orders.

 

 

Ad

X whatsapp