The Federal Government of Nigeria through the Police Force Criminal Investigation Department has sued Addax Petroleum and two of its senior officials, Mr. Tunji Mayaki and Mrs. Nike Esan, the company secretary for Diversion of money meant for Peacegate Oil and Gas Limited.
In a two count charge before the Lagos State High Court Ikeja, the Federal Government averred that Addax Petroleum Exploration Limited, Mr. Tunji Mayaki and Mrs. Nike Esan between October 2008 and July 2009 in Lagos within the jurisdiction of the Court conspired among themselves to commit felony and stealing by conversion to personal use the sum of $3,653,000 property of Peacegate Oil and Gas Limited being money approved by the National Petroleum Investment Management Services (NAPIMS) as final settlement for a Marine Logistics contract executed by the indigenous service firm for the international Oil company.
In the deposition before the Court signed by Mr. Henry Obiazi Esq, Legal Officer of FCID, with 11 supporting exhibits which include letters from Addax Petroleum to NAPIMS dated 4th February 2010, petition against Addax dated July 6th, 2021, letter from NAPIMS to Peacegate Oil and Gas, Letter from NAPIMS Group Executive Director dated February 8th, 2010, Letter from Mr. Ayorinde Adedoyin, Managing Director of Peacegate Oil and Gas, Letter from Addax Petroleum to the Nigerian Navy dated 3rd April, 2008, letter from Skye Bank now Polaris Bank to Peacegate Oil and Gas dated 3rd November 2008 among others, the Federal Government noted that the offence committed by Addax Petroleum and two of its senior officials was conspiracy that is contrary to section S16 of criminal code Cap.C38 LFN, 2004.
Peacegate Oil and Gas and Addax have had a running battle over a term chatter Logistics contract for which Addax contracted the indigenous Oil service firm to provide security vessel for its offshore blocks, OML 123 and 126.
Without keeping to the contractual terms of engagement, Addax, according to Peacegate terminated its contract when the vessel was attacked by militants and failed to remobilise the vessel back to work. When NAPIMS, a subsidiary of the NNPC intervened and set terms of settlement on amount to be paid to Peacegate as final settlement, the money was diverted by Addax Petroleum and its officials mentioned in the suit for other purposes outside the terms set by NAPIMS.