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.