The Federal High Court sitting in Uyo, Akwa Ibom State has dismissed the preliminary objections by the Shell Petroleum Development company in suit filed by the A’Ibom Oil Producing Development Network (AKPICON), demanding payment of compensation and remediation of battered environment over decades of hydrocarbon pollution occasioned by oil and gas emissions from corked and uncorked oil and wells in various parts of the state.

AKIPCON serves as a mechanism for the realization of environmental justice and protection of human rights of the people over a period of time.

The organization had, through its lead counsel, Dr Dada Awosika, SAN, of Awosika partners in conjunction with Barr Ndifreke Akpan, written to the Managing Director of SPDC demanding payment of N140bn compensation to alleviate the sufferings of the impoverished farmers, fishermen and allied business owners

The letter reads in part, ”Your company owns corked and uncorked oil and gas wells which spread over Akwa Ibom State particularly in Mkpat-Enin, Ini, Ikot Abasi, Onna, Uruan, Esit-Eket, Iket, Uyo, Eastern Obolo, Nsit-Antai, Etinan, Mbo, Okobo, Essien Udim, Ikot-Ekpene Local Government Areas and others.

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”Over the years there has been increased leakages and emissions of crude from your company’s corked and uncorked oil and gas wells and facilities which continually discharge toxic hydrocarbon into farm lands and water bodies in the environment where our clients operate.

”The said leakages/emissions arise from your company’s negligence in the maintenance of your corked and uncorked oil wells. Most often your expired, aged and rusted pipes installed in the early 1950s erupt, discharging crude oil which washes itself into water bodies and farmlands of our clients, resulting in colossal damage to their farmlands and water bodies.

”The activities of your company in this regard has brought untold hardship, economic losses, unemployment, redundancy, insecurity, frustration, abject poverty, phycological trauma and health hazards with attendant human rights consequences to our clients.

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”Flowing from the foregoing, it’s our instruction to demand that your company pays N140bn, only to our clients being compensation for the age-long degradation of their environment and damage caused to their property and means of livelihood arising from your company’s activities. In addition, we demand that you take immediate steps to clean up and remediate our battered environment caused by your operation for decades to return the environment to its pristine state”

But the SPDC, in No: FHC. UY/CS/85/2024 argues that AKPICON does not have the legal rights to institute the case. It also contended that the case is status bar by Akwa Ibom limitation laws on oil spills as the said spills occured over 70 years ago.

However, ruling on the matter on Thursday, the presiding judge, Justice MA Onyetanu, dismissed the SPDC’s preliminary objections for lack of merit and adjourned the case to February 5th for commencement of trail.

The naira dropped for the first time on Thursday across official and parallel foreign exchange markets.

The Central Bank of Nigeria’s data showed that the Naira depreciated slightly to N1,443.90 against the dollar on Thursday, down from N1,442.92.

This means that the Naira weakened marginally by N0.98 against the dollar on a day-to-day basis.

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Similarly, the Naira depreciated at the black market by N5 to N1,470 per dollar on Thursday from N1,465 since Monday.

The development comes after the naira recorded three straight appreciations against the dollar, gaining N10.92 against the dollar.

Meanwhile, the apex bank data showed that the country’s foreign reserves surged to $44.56 billion as of 26th November 2025, up from $44.26 billion on 21st November.

The Economic and Financial Crimes Commission, EFCC, has invited former Attorney-General of the Federation and Minister of Justice, Abubakar Malami for questioning.

Malami announced the development on his Facebook page on Friday, confirming that he had received a formal invitation from the anti-graft agency.

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“I would like to inform my family and friends that I have been summoned by the EFCC to provide clarification on certain matters, and as a law-abiding and patriotic citizen, I am determined to honour this invitation without any hesitation,” he wrote.