Business

Indigenous oil and gas engineering company, Kaztec, Urges Appeal Court to Set Aside Judgment on OMLs Dispute

Published

2 years ago

December 19, 2023

313 Views

An indigenous oil and gas engineering company, Kaztec Engineering Limited, has asked the Abuja Division of the Court of Appeal to set aside the judgment of Justice Nkeonye Evelyn Maha of Federal High Court Abuja, which struck out its suit filed against the Ministry of Petroleum Resources, and five others regarding Oil Mining Leases (OMLs) 123, 124, 126 and 137.

Justice Maha had in her judgment delivered on December 15, 2023, struck out suit number: FHC/ABJ/CS/1291/2020, filed by Kaztec Engineering Limited against the Ministry of Petroleum Resources; the Attorney General of the Federation; Mars Exploration and Production Company Ltd; the Nigerian Upstream Petroleum Regulatory Commission and the Nigerian Petroleum Company Limited (NNPCL).

Dissatisfied, Kaztec Engineering Limited in its Notice of Appeal filed by its team of lawyers, led by Jeph C. Njikonye, SAN is praying the appellate court to allow the appeal and set aside the whole decision striking out the appellant’s suit/claims.

The appellant also urged the court to invoke Sections 15 and 16 of the Court of Appeal Act and assume jurisdiction to determine its 2nd Amended Originating Summons; and resolve issues 5 endorsed on the appellant’s Amended Originating Summons filed on March 22, 2023 in its favour.

The appellant argued that the trial court erred in law when it struck out its suit on the grounds of non joinder of Salvic Petroleum Resources Ltd, stating that the law is trite that non-joinder of a party does not defeat the cause of action.

Njikonye argued that the joint award of the disputed OMLs to the appellant and Salvic Petroleum Resources Ltd. was clearly delineated to be on equity participation of Kaztec

He urged the court to hold that the appellant (Kaztec) had a distinct cause of action against the respondents to commence its suit and to seek the reliefs sought.

Besides, Njikonye argued that the trial court erred in law when it held that non production of document evidencing payment of signature bonus rendered the court incompetent to entertain the suit.

He stated that the lower court had in its rulings affirmed the appellant’s reasonable cause of action against the respondents, submitting that the appellant never sought any reliefs against Salvic Petroleum Resources Limited being not a necessary party for the determination of the appellant’s suit.

He urged the court to hold that “The appellant had locus standi to commence and maintain the action in its personal capacity, and that the non joinder of Salvic Petroleum Resources Ltd. as a party could not have defeated the Appellant’s cause of action.”

He submitted that the matter submitted to the lower court was for the interpretation of Section 2(1)(B); 12(1); Paragraph 35 Schedule 1 of the Petroleum Act; Letters of Award of Oil Mining Lease (OMLS) 123, 124, 126 and 137 dated 30th March, 2021, 7 April 2021 and 11th June, 2071 and a determination that the review of the award of the OMLs to the appellant in the circumstances of the case was wrongful.

He stated that the issue of payment of signature bonus would not arise until the award to the appellant is restored.

The appellant argued that the competence and jurisdiction of the court to determine matters in dispute between persons, government or authority is regulated by the Constitution and relevant statutes.

He submitted that there was nothing in the provisions of the Petroleum Act, any other law or Section 251 of the Constitution of the Federal Republic of Nigeria 1999 (as amended) that made payment of signature bonus a condition precedent for the appellant to commence the suit in the circumstances of the action.

The lower court had issued an interim order directing the parties to the suit (including the Minister of Petroleum Resources and the NUPRC) to maintain the status quo in relation to the said OMLs.

However, in the judgment of the court delivered last Friday, the court held that the Originating Summons was incompetent, having failed to join a necessary party (Salvic Petroleum) to the suit. Consequently, the suit was struck out.

In effect, the appeal entered by Kaztec Engineering Ltd shall act as stay of further action on the subject matter until the appeal is finally determined.

Related Topics:Appeal Court Featured Kaztec Oil and gas engineering company

Up Next

NNPCL MD Woos Gas Companies on Appropriate Pricing For Nationwide Penetration

Don't Miss

FG’s N75bn loan facilities to Manufacturers ready – Minister ▪︎Disburse Thru BoI – MAN

Click to comment

Business

CBN places suspicious BVNs on 24-hour watchlist

These provisions are set to take effect from 1 May 2026.

Published

15 hours ago

March 13, 2026

OCHEFA

20 Views

Photo: Olayemi Cardoso , CBN Governor

To combat fraud, the Central Bank of Nigeria (CBN) has unveiled new regulations aimed at strengthening fraud control and digital banking security across the country.

These provisions are set to take effect from 1 May 2026.

In a circular issued to all banks, other financial institutions and payment service providers, the apex bank details amendments to the Revised Regulatory Framework for Bank Verification Number (BVN) operations and additional requirements for instant payment services.

Under the new BVN framework, financial institutions are required to maintain a temporary watchlist for BVNs implicated in suspected fraudulent transactions.Any BVN placed on this list will remain there for a maximum of 24 hours, during which the account holder will be contacted to provide clarification.

The circular also sets age restrictions for BVN enrolment, limiting registration to individuals 18 years and above, and restricts phone number amendments linked to BVNs to a single change.

Access to BVN databases will now be exclusively for CBN-licensed financial institutions, with the central bank retaining the right to grant access in extenuating circumstances under existing laws.

Business

Indorama, Nigerian Breweries and Genesis Power plan 45,000 tons rPET Plant in Lagos

The initiative aims to meet fast rising demand for recycled content, reduce plastic waste and create local value through improved collection systems.

Published

15 hours ago

March 13, 2026

OCHEFA

21 Views

Indorama Ventures Public Company Limited, Nigerian Breweries Plc and Genesis Power and Energy Solutions Ltd have entered a strategic partnership to establish one of Africa’s largest state-of-the-art recycled PET (rPET) production facilities in Nigeria.

Located in Lagos, the site represents an investment to develop a facility capable of producing up to 45,000 tons of food grade rPET resin yearly, with start up targeted in the first half of 2027, a statement by the partners said.By converting post consumer PET bottles into high quality recycled material for packaging applications.

The initiative aims to meet fast rising demand for recycled content, reduce plastic waste and create local value through improved collection systems.

The project is expected to support recycling capacity in Nigeria, subject to regulatory approvals, technical validation and operational implementation.

Together, the partners aim to establish commercially viable rPET operations that enable responsible growth and long-term environmental impact.

Commenting on the landmark partnership, Executive President of Petchem and Chairman of ESG Council at Indorama Ventures, Yash Lohia, said: “This partnership marks a defining milestone in our global recycling journey. By establishing our largest recycling facility to date and one of the largest rPET sites in Africa, we are bringing Indorama Ventures’ global expertise, proven technologies and long-term vision for circularity to a region with immense growth potentials.

This investment reflects our belief that scaling sustainability solutions locally is essential to building resilient, sustainable packaging systems that deliver lasting environmental and economic value.”

Chairman and CEO of Genesis Energy, Akinwole II Omoboriowo, said: “This compelling initiative demonstrates Genesis’s commitment to deploying capital to climate-resilient investments by leveraging clean energy as a strategic nexus to advancing viable economic opportunities.

The investment is also a testament to how cross-sector partnerships can enable sustainable industrial development. By combining circular economy principles with resilient infrastructure and energy solutions, the initiative supports long-term environmental impact and local value creation.”

Business

CBN restricts mobile banking apps operation to one device

In the circular signed by the CBN’s Director of Payments System Policy Department, Musa Jimoh, said ” Implementation of the above provisions will take effect from July 1, 2026.”

Published

16 hours ago

March 13, 2026

OCHEFA

23 Views

The Central Bank of Nigeria on Friday restricted the operation of mobile banking applications (apps) to one device.

This was contained in a circular to all banks and other financial institutions and payment service providers (PSP) announcing additional guidance for the operations of instant payments (IP) in Nigeria.

In the circular signed by the CBN’s Director of Payments System Policy Department, Musa Jimoh, said ” Implementation of the above provisions will take effect from July 1, 2026.”

The circular read: “The Central CBN in line with its mandate of promoting financial system stability hereby issues additional guidance for the operations of Instant Payments in Nigeria.

All Financial Institutions (FIs) offering Instant Payment (IP) shall provide the following additional functionalities: Mandatory device binding: Mobile financial services applications (apps) shall only be enabled on one device at a time, and customers cannot operate the apps concurrently on multiple devices.“Migration to another device shall trigger automatic re-activation and authentication.

“Customers shall have the option to opt-out of opt-in to IP service at any time and for any given period.

This process shall be subject to Multi-Factor Authentication (MFA) control. Default setting shall be Opt-in upon on-boarding a new customer.

“In the opt-out mode, a customer shall not be able to carry out online instant transfer of funds (intra or inter) from his/her account to another customer.“

However, customers can physically visit the financial institution to effect transfer during this period.

“Voluntary Transaction Limit: Subject to the existing maximum limits of N25 million for individuals and N250 million for corporates, customers shall have the option to adjust the limits as needed.