The management of oil and gas giants, Rahamaniyya oil has expressed it’s commitment to fulfill the agreement it signed with Sahara Energy over the buying and selling of 15,000MT gas oil deal between the firms in 2018.
Abdulrahman Bahsar, the Group Managing Director of Rahamaniyya Oil & Gas made the clarification while reacting to a report that he had defaulted in the agreement and has in turn been found guilty by a London Court.
The M.D clarified that 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.
Speaking through his Legal adviser Dada Awosika, in a statement issued in Abuja on Thursday, the oil and gas businessman explained that as part of the agreement, Sahara would relinquish claim over cargo return while Rahamaniyya would withdraw proceedings against Sahara in Nigerian court.
He stated that on June 5, 2020 a revised payment agreement was concluded by all parties and is expected to be completed latest by Feb 2021.
“On July 9, 2020, final award was granted in the matter of arbitration by Sole Arbitrator awarding Sahara monies in respect of cargo dues, interest and legal costs”.
“In Service of the agreement dated 5 Jun 2020, N100 million was paid by Rahamaniyya to Sahara Energy on 10 August, 2020 into its Nigerian account at FCMB and N130 million on 20 August, 2020”.
“In light of recent rumors circulating, to do with 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”.