Flingpord

  Court freezes 3 firms’ accounts over non-disclosure of lifted crude oil Justice Daniel Osiagor , of the Federal High Court, Lagos, has  directed 18 commercial banks to freeze and place a Post No Debt (PND) on any sum of money, standing to the credit of accounts belonging to three oil and gas companies ,  Petralon 54 Limited; Petralon Energy Limited and Tako E&P Solutions Limited , for their alleged failure to declare total quantity of crude sold, the amount it was sold and the royalty paid to government. The court also ordered the 18 banks to disclose on oath, details of the amounts standing as credit balance in the respective accounts of the oil and gas companies’ accounts. The banks affected by the court orders are;  Access Bank Plc; Ecobank Bank Plc, First Bank of Nigeria Plc; First City Monument Bank Plc; Guaranty Trust Bank Plc; Jaiz Bank Plc; Keystone Bank Plc; Polaris Bank Plc; and Stanbic Ibtc Bank Plc. Others include;  Standard Chartered Bank Plc;...