29 C
Saturday, October 31, 2020
- Advertisement -

Rahamaniyya Remains Committed to Sahara Agreement, Says Chairman Bashir


#EndSARS Protest: A Fundamental Lesson in Democratic Governance – By Bola Ahmed Tinubu

I heavily grieve for those who have lost their lives or been injured during the period of these protests. My deepest sympathies...

#EndSARS Protests: Nigeria’s President Could Have Prevented Escalation of Violence but Poured Oil on the Fire Through His Silence – By Chidi Anselm Odinkalu...

Located in the central regions of Nigeria’s Delta State, Ughelli is a sleepy city in the Western Niger Delta and the unlikely...

We Must Get Children Back to Learning – But Business As Usual is Not an Option By Jutta Urpilainen and Henrietta Fore

A global joint op-ed by the EU and UNICEF on education for children “One child, one teacher, one book,...

Subjecting Anti-SARS Agitation to Political Interpretation is Jejune Partisan Stimulus By Chris Okotie

Chairman Mao once posited that if the people no longer fear your power, it is because another power is on its way....

Abdulrahaman Bashir, the Group Managing Director of Rahamaniyya Oil and Gas has said that his company remains committed the service agreement reached with Sahara Energy in 2018 for the purchase and sale of 15,000 metric tonnes of gas oil.

Mr Bashir was responding to news reports that he had defaulted on the agreement and had been convicted by a London Court.

He said that an agreement had already been reached between Rahamaniyya’s UAE subsidiary Ultimate Oil and Gas, Sahara Energy and Rahamaniyya Oil and Gas over a payment plan for the balance of cargo dues owed to Sahara Energy to be effected between Dec 2019 and 31 Jun 2020.

He said that as part of the agreement, Sahara would relinquish its claims over the cargoes while Rahamaniyya would withdraw all litigation against Sahara Energy in Nigerian courts.

Rahamaniyya’s legal adviser Dada Awosika said that the parties on June 20, 2020 revised the payment agreement, now expected to be completed by February 2021.

Mr Bashir said: “On July 9, 2020, a final award was granted in the matter of the arbitration by a Sole Arbitrator awarding Sahara monies in respect of cargo dues, interest and legal costs.

“In compliance with the service agreement dated June 5 2020, N100 million was paid by Rahamaniyya to Sahara Energy on August 10, 2020 into its Nigerian account at FCMB and N130 million was paid to Sahara on August 20 2020.

“In the light of recent rumours circulating, to do (sic) with criminal conviction of Mr Abdulrahaman Musa Bashir, the Chairman and Managing Director of Rahamaniyya Oil and Gas, in the above mentioned case, we wish to clarify that such claims are false, harmful and misleading. Mr Bashir is a law abiding citizen who remains free based out of his home in Abuja, Nigeria.

- Advertisement -


Please enter your comment!
Please enter your name here

- Advertisement -

Business Profiles

Theresa Ekong

Theresa Ekong is the Acting Head of Compliance at Providus Bank. She has over 18 years industry experience cutting across banking Operations,...

Mark Oguh

Mark has 22 years experience in the Banking industry covering Operations, Audit and Financial Control. He is also a...

Aina Amah

Aina Amah is a graduate of Economics from the University of Lagos and an MBA from the University of Nicosia, Cyprus. She...

Uyi Osagie

Uyi Osagie is the Chief Financial Officer of Allianz Nigeria. He joined Allianz as Financial Controller from 2014 and rose through the...

Usen Udoh

Usen Udoh is the Group Chief Human Resources Officer of the Dangote Group where he oversees a team of busines unit human...