Rahamaniyya Oil, Gas refutes criminal conviction rumour of GMD

The Group General Manager (GMD) of Rahamaniyya Oil & Gas, Mr. Abdulrahman Musa Bahsar on Thursday has refuted the rumours making the round that he had been convicted in a case between his company and Sahara Energy.

This was contained in a statement made available to newsmen in Abuja entitled “in response to mischevious claims pertaining to matter of commercial dispute with sahara energy”.

Mr. Bashar described as false, harmful and misleading the rumour insisting that he is living free in his Abuja home.

“In the light of recent rumors circulating, to do with a criminal conviction of Mr.Abdulrahaman Musa Bashar, the C&MD of Rahamaniyya Oil & Gas, in the above-mentioned case, we wish to clarify that such claims are false, harmful & misleading. Mr. Bashar is a law-abiding citizen who remains free based out of his home in Abuja, Nigeria” he said.

The statement reads: “Ultimate Oil & Gas DMCC entered into an agreement with Sahara Energy on 15th Jun 2018 to buy approx. 15,000 MT of Gasoil delivered DAP Lagos at the depot.

“Ultimate sold this cargo onwards to Rahamaniyya Oil & Gas Ltd 1 Aug 2019 M/s Sahara Energy secured interim injunction in English High Court for return of approx. 6,400 MT of product held at the depot due to alleged non-payment of cargo dues.

“1 Aug 2019 Sahara Energy commenced arbitration proceedings against Rahamaniyya Oil & Gas under the Collateral Management Agreement dated 9 July 2018 covering the above mentioned contract of sale/purchase of Gasoil.

“Proceedings were commenced by Rahamaniyya on 19 Sep 2019 in Nigerian High Court against Sahara’s validity of claim basis Sahara Energy being an offshore company and not authorized to sell products in Nigerian territory.

“6 Dec 2019 an Agreement was reached between Ultimate Oil & Gas, Sahara Energy & Rahamaniyya Oil & Gas on a payment plan for balance of cargo dues owed to Sahara Energy to be effected between Dec 2019 and 31 Jun 2020.

“In exchange for same, Sahara will relinquish claim over cargo return and Rahamaniyya will withdraw proceedings against Rahamaniyya in Nigerian court.

“5 Jun 2020 a revised payment agreement was concluded by all above mentioned parties to be completed latest by Feb 2021
9 July 2020 final award was granted in the matter of arbitration by Sole Arbitrator awarding Sahara monies in respect of cargo dues, interest & legal costs.

“In Service of the agreement dtd 5 Jun 2020, N100mio was paid by Rahamaniyya to Sahara Energy dated 10 Aug 2020 into its Nigerian account at FCMB and N130mio dtd 20 Aug 2020.

Rahamaniyya remains committed to the above-mentioned agreement and will make all endeavor to meet its obligations pursuant to the settlement agreement”.

LEAVE A REPLY

Please enter your comment!
Please enter your name here