Providus Bank and De-Haryor World Providers Ltd have urged the Federal Excessive Courtroom in Abuja to dismiss Ziklagsis Community Restricted’s software looking for to cease the federal authorities from tempering with a disputed N39,171,985,233.95 fund for the availability of pay as you go electrical energy meters in Nigeria.
Of their responses, the defendants opposed Ziklagsis’ lawsuit( FHC/ABJ/CS/576/2024), which seeks a court docket declaration that the corporate is entitled to a refund of N7.5 billion or every other funds withdrawn from its “N39.1bn mortgage account” domiciled with Providus Bank.
The funds relate to a “Judgment Compromise Settlement.”
Background of the Case
The matter stems from a Tripartite Settlement dated December fifth, 2003, involving the federal authorities (by way of the now-defunct Nationwide Electrical Energy Authority, NEPA/PHCN), Ziklagsis, and Unistar Excessive-Tech Methods Restricted.
The settlement lined the manufacture, provide, set up, and upkeep of three million pay as you go electrical energy meters.
Ziklagsis’ authorized group, led by Wole Olanipekun, SAN, claims that on April 22, 2024, the Minister of Power expressed intentions to revoke the contracts awarded to Ziklagsis throughout an oversight go to by the Senate Committee on Energy.
Ziklagsis’ Claims
- Ziklagsis accuses the federal authorities and the Ministry of Energy of deliberate makes an attempt to sabotage its efforts to satisfy the phrases of the revalidated Tripartite Settlement.
- The corporate alleged that the actions, taken in dangerous religion, purpose to deprive it of the advantages of the metering undertaking.
“Quick judicial intervention is required, with out which the defendants will truncate the execution of the undertaking,” Ziklagsis acknowledged in its court docket submitting.
Providus Bank and De-Haryor’s Responses
Providus Bank rejected Ziklagsis’ allegations, describing them as false.
- In a counter-affidavit dated August 13, 2024, the bank defined that it had agreed to lodge the disputed funds after pleas from Ziklagsis and related stakeholders.
- It stated it additionally issued a fee assure to the Ministry of Energy in February 2020 primarily based on Ziklagsis’ directives.
- The bank famous that it isn’t a celebration to the unique contract however maintains a banking relationship with Ziklagsis.
- It additional defined that Ziklagsis, the Nigerian Military, and De-Haryor World Providers Ltd entered right into a Energy Metering Consortium Settlement in September 2023, which allotted a part of the funds for the Nigerian Military Energy Metering Venture.
Providus Bank acknowledged that, with Ziklagsis’ consent, it issued fee ensures totaling N12.76 billion and transferred a part of the contract sum to De-Haryor World Providers Ltd as agreed.
- The bank urged the court docket to dismiss Ziklagsis’ software, alleging that it was filed in dangerous religion and posed a threat to nationwide safety attributable to delays in putting in pay as you go meters in army barracks.
- Equally, De-Haryor World Providers Ltd argued that Ziklagsis breached the contract by failing to ship the meters inside the agreed two-year moratorium.
- Its lawyer, Marcus Abu, Esq., asserted that as an alternative of executing the undertaking, Ziklagsis deposited the funds in a set deposit account.
“The federal authorities and the Ministry of Energy fulfilled their obligations below the contract by disbursing over N39bn to the plaintiff. Nevertheless, Ziklagsis’ actions point out an intention to not make the most of the funds for the undertaking,” Abu stated.
He added that the court docket ought to declare the contract discharged attributable to Ziklagsis’ alleged breach, slightly than restraining the defendants from accessing the funds.
What Subsequent?
Nairametrics gathers that Justice James Omotosho has scheduled February 4, 2025, for additional listening to of the case.
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