An Abuja Division of the Federal High Court has reversed its previous ruling which retrieved the control of one of Nigeria’s richest oil blocks, OPL 245, from Shell and ENI.
The court had on January 26, issued an order, based on a motion by the Economic and Financial Crimes Commission, retrieving the ownership of the oil block from the multinational companies.
Followong that order, Shell and ENI approached the court with an an application, challenging the ruling.
They contended that the rights of parties to fair hearing was not followed before the ruling was reached.
They prayed the court to reverse the order, and allow the parties adress the issue, legally.
Malabu, the company which was given the oil block in controversial circumstance in 1998 had also applied to be a party to the application.
Delivering the ruling on the various applications regarding the matter, Justice John Tsoho said the ownership of the company should return to Shell and ENI.
The court also refused the application by Malabu to join in the matter.