The Chief Executive Officer of Rahamaniyya Oil and Gas Limited, Abdulrahman Bashir, has been served a jail term in the United Kingdom.
According to reports, the oil mogul had made a deal with Sahara Energy in 2018 where he signed a contract agreeing to buy, and Sahara on the other hand agreed to sell 15,000 metric tonnes in the Vacuum of Gas Oil.
The Nigerian oil mogul was found guilty after he breached multiple orders from the court in a pending suit instituted by Sahara Energy Resources Ltd.
Bashir who was handed a 10 months jail sentence, had been ordered by court to adhere with requests for the release of 6,400.69 metric tonnes gas oil to Sahara Energy Resource Ltd or its agent from Rahamaniyya Oil and Gas Ltd, Jetty 6.436181, Ibafon, Kirikiri Waterfront, of Aero Maritime Street, Apapa, Lagos, Nigeria (“the Terminal”).
The court records also showed that some payments were made, in consequence of which some 8,566.469 metric tonnes of gas oil was released to Ultimate. Ultimate, however reneged in performing the terms of the settlement agreement in full by making all the payments due. After various warnings, on May 10, 2019, Sahara terminated the settlement agreement, notifying Ultimate that its agent, Asharami Synergy Plc would take delivery of part of the remaining gas oil from the terminal.
Several attempts made by Sahara to take delivery of the gas oil were futile, which led to the filing of the lawsuit both in Lagos and in the United Kingdom.
Justice Butcher who delivered the third order following a contempt of court judgement;
“The basis of the sentence was that Mr Bashir had committed continuing breaches of the order of Mr Justice Robin Knowles of 1 August 2019 and of the order of Mr Justice Bryan of 6 September 2019.”
There was also an indication in the binding indicating that the sentence can also be reduced to six months if Mr Bashir complies with the relevant order that was previously breached. He was also demanded to pay a fine of £500,000 while his manager, Adebowale Aderemi received a fine of £10,000.