A Federal High Court in Abuja has been asked to compel former aide to ex-President Olusegun Obasanjo, Prof. Anthony Adegbulugbe to provide financial and other details of Green Energy International Ltd since he became the Chairman of the oil firm.
Green Energy has for sometime now been subjected to a major boardroom crisis arising from the disagreement between Adegbulugbe and two other founding directors, Dr Bunu Alibe, and Mr Ayodele Olojede.
The request for Adegbulugbe to provide the firm’s account statements, company’s invoice and receipt of payment of its shares register of all shareholders, board resolutions, among others is contained in a fresh motion filed by the lawyer to Alibe and Olojede-Etigwe Uwa (SAN).
The motion is filed in a pending suit marked: FHC/ABJ/CS/1390/2020, in which Alibe and Olojede are accusing Adegbulugbe, who was Obasanjo’s Special Adviser on Energy, of a series of corporate misdemeanors, including unilateral usurpation of executive responsibilities contrary to the provisions of the Companies and Allied Matters Act (CAMA), 2020 and the company’s Articles.
Alibe and Olojede claimed that they were unlawfully removed by the chairman (Adegbulugbe) of the company they jointly nurtured to fruition.
In the fresh motion, Alibe and Olojede are praying the court to direct the production of all bank statements of the plaintiff’s account(s) within and outside Nigeria from its incorporation till date.
“All financial instruments issued by the plaintiff to all banks within and outside Nigeria including cheques, approvals, vouchers, all contracts to third parties, monies paid to all directors by the plaintiff since incorporation till date.
“All contracts with third parties for the development of the Otakikpo Marginal Oil Field (OML 11) including contracts with drilling companies, oil service companies and contracts with regard to suppliers from the incorporation of the plaintiff till date.
“All contracts entered by the plaintiff with other parties with regard to the crude oil sales, transportation, and handling charges for the sale of crude from the incorporation of the plaintiff till date.
“All audited financial and management account statements of all bank accounts within and outside Nigeria from incorporation of the plaintiff till date.
“All permits and licenses, including export licenses issued by the Department of Petroleum Resources for the purpose of the plaintiff lifting and exporting crude and other hydrocarbons flowing out of the Otakikpo Marginal Oil Field (OML 11) from incorporation till date.
“All agreements with third parties, including Schlumberger for the development of the Otakikpo Marginal Oil Field (OML 11) as well as other parties who farmed into the field like Lekoil, BSG e.t.c from incorporation of the plaintiff till date.”
They also want the invoice and receipt of payment of the firm’s shares “by Professor Anthony Adegbulugbe, Miss. Nnenaya Anya, Dr. Lyberty Udochu, Grand Energy Limited, Mr. Adebayo Babalola, Mrs. Busayo Bisari-Akinadeju., Mr. Elijah Adepoju, Miss Blessing I. Olorunfemi and Mr. Dotun Oluwakayode.
“Professor Anthony Adegbulugbe, Miss. Nnenaya Anya. Dr. Lyberty Udochu, Grand Energy Limited. Mr. Adebayo Babalola, Mrs. Busayo Bisari-Akinadeju, Mr. Elijah Adepoju, Miss Blessing J. Olorunfemi and Mr. Dotun Oluwakayode’s payment cheque or other evidence of payment for the shares of the plaintiff.
“The plaintiff’s duplicates of its issued share transfer certificates to Professor Anthony Adegbulugbe, Miss. Nnenaya Anya, Dr. Lyberty Udochu. Grand Energy Limited, Mr. Adebayo Babalola, Mrs. Busayo Bisari-Akinadeju, Mr. Elijah Adepoju, Miss Blessing I. Olorunfemi and Mr. Dotun Oluwakayode.
“All minutes of meeting between the plaintiff and Shell Producing and Development Company.
“All minutes of meetings between the plaintiff and the Department of Petroleum Resources
“All due diligence report conducted by Shell Petroleum and Development Company conducted and Professor Anthony Adegbulugbe, Miss. Nnenaya Anya, Dr. Lyberty Udochu, Grand Energy Limited, Mr. Adebayo Babalola, Mrs Busayo Bisari-Akinadeju, Mr. Elijah Adepoju, Miss Blessing 1. Olorunfemi and Mr. Dotun Oluwakayode.
“All due diligence report conducted by the Department of Petroleum Resources conducted and Professor Anthony Adegbulugbe, Miss. Nnenaya Anya, Dr. Lyberty Udochu, Grand Energy Limited, Mr. Adebayo Babalola, Mrs. Busayo Bisari-Akinadeju, Mr. Elijah Adepoju, Miss Blessing I. Olorunfemi and Mr, Dotun Oluwakayode.
“All the plaintiff’s tax returns for petroleum profits tax submitted to the Federal Inland Revenue Service.
“All evidence of payment of 2% education tax to the Federal Government.
“All evidence of payments and tax returns for the payment of value added tax to the Federal Inland Revenue Service.
“All evidence and remittance of withholding tax to the Federal Inland Revenue Service.
“All email correspondence between the plaintiff and all its service providers.
“All email correspondence between the plaintiff and its shareholders.
“All notices of meetings, including notices for Annual General Meetings, Extra Ordinary Meetings, Management meetings.
“All minutes of meetings, including minutes of Annual General Meetings, Extra Ordinary Meetings, and Management Meetings.
“All minutes of meetings, including minutes of Annual General Meetings, Extra Ordinary Meetings, and management Meetings of the 1st respondent including the extra general meeting held on the 16th of May, 2014 and that of the 17th of September, 2015.
“All filed annual returns at the Corporate Affairs Commission particularly the returns filed in 2014 till date.
“The plaintiff’s register of all its members and shareholders.
“All Board resolutions of the plaintiff including resolutions for the increase of the plaintiff’s share capital from incorporation till date.”
Justice Bolaji Olajuwon has fixed March 9 for hearing in the case.
