The Federal government o to Nigeria has instituted a criminal charge against a upstream company, Shoreline Natural Resources Limited and it’s five director, over alleged evasion, failure and refusal to pay the sum of $57, 599, 172.95 million USD, as Stamp Duties Tax.
Shoreline’s directors named in the criminal charge numbered FHC/L//2024, are: Oseragbaje Adogbeji Benjamin, Kola Karim, Tunde Karim, Karim Olayinka Adebayo and Michelotti Guido Giovanni Maria.
The upstream firm and it’s were charged before the court presided over by Justice Ambrose Lewis-Allagoa on a five-count charge of alleged failure to pay the statutory stamp duty; unlawfully and willfully evade the payment and remittance of duties, fines, penalties; and failure to remit tax due and payable within the prescribed period.
Barrister Moses Ideho from the office of the Attorney-General of the Federation (AGF) stated that the alleged acts of the defendants contravened sections 40 of the Federal Inland Revenue Service Establishment Act 2007 (as amended). And sections 23; 111 and 112 of the Stamp Duties Act and punishable under Sections 111 and 112 of the Stamp Duties Act (as amended).
Barrister Ideho also said the offences committed by the firm and it’s directors contravened 32 of the Federal Inland Revenue Service Establishment Act 2007 (as amended). And sections 40 and 49 of the Federal Inland Revenue Service Establishment Act 2007 (as amended).
Though, the defendants’ plea are yet to be taken.
However at the last hearing of charge on November 8, defendants’ lawyer, Mr. Seni Adio (SAN) informed the court that his clients are still in plea bargain talk with the prosecution.
He therefore asked the court for a short date to report the outcome of the plea bargain agreement.
Consequently, Justice Lewis-Allagoa adjourned the matter to January 23, 2025, for report on the plea bargain agreement.
The charges against the upstream Firm and it’s directors read: “that you Shoreline Natural Resources Ltd, Oseragbaje Adogbeji Benjamin, Kola Karim, Tunde Karim, Karim Olayinka Adebayo and Michelotti Guido Giovanni Maria sometime in 2012, in Lagos, and within the jurisdiction of this Honourable Court, whilst in the course of doing business on the Oil Mining Lease 30 with the Nigerian Upstream Regulatory Commission, failed to pay Stamp Duties Tax, within the year 2012, in the sum of $57, 599, 172.95 (Fifty Seven Million, Five Hundred and Ninety-Nine Thousand, One Hundred and Seventy Two Dollars, Ninety Five Cent only) penalty inclusive, being your Stamp Duties Tax, for the above mentioned year and thereby committed an offence contrary to and punishable under S.40 of the Federal Inland Revenue Service Establishment Act 2007 (as amended).
“That you Shoreline Natural Resources Ltd, Oseragbaje Adogbeji Benjamin, Kola Karim, Tunde Karim, Karim Olayinka Adebayo and Michelotti Guido Giovanni Maria, sometime in 2012 in Lagos and within the jurisdiction of this Honourable Court, whilst in the course of doing business on the Oil Mining Lease 30 with the Nigerian Upstream Petroleum Regulatory Commission, failed to pay the statutory stamp duty imposed on the executed Purchase Agreement to acquire Oil Mining Lease 30 and in so doing, committed an offence, contrary to S. 23 of the Stamp Duties Act and punishable under S. 111 and 112 of the Stamp Duties Act (as amended).
“That you Shoreline Natural Resources Ltd, Oseragbaje Adogbeji Benjamin, Kola Karim, Tunde Karim, Karim Olayinka Adebayo and Michelotti Guido Giovanni Maria, sometime in 2012, in Lagos and within the jurisdiction of this Honourable Court, whilst in the course of doing business on the Oil Mining Lease 30 with the Nigerian Upstream Petroleum Regulatory Commission, did unlawfully and willfully evade the payment and remittance of duties, fines, penalties and debts due to the Government of the Federation imposed on the executed Purchase Agreement to acquire Oil Mining Lease 30 and in so doing, committed an offence, contrary to and punishable under S. 111 and 112 of the Stamp Duties Act (as amended).
“That you Shoreline Natural Resources Ltd, Oseragbaje Adogbeji Benjamin, Kola Karim, Tunde Karim, Karim Olayinka Adebayo and Michelotti Guido Giovanni Maria sometime in 2012, in Lagos and within the jurisdiction of this Honourable Court, whilst in the course of doing business on the Oil Mining Lease 30 with the Nigerian Upstream Petroleum Regulatory Commission, did failed to remit the tax due and payable within the prescribed period, to the Federal Government of Nigeria on the executed Purchase Agreement to acquire Oil Mining Lease 30 and in so doing, committed an offence, contrary to and punishable under S. 32 of the Federal Inland Revenue Service Establishment Act 2007 (as amended).
“That you Shoreline Natural Resources Ltd, Oseragbaje Adogbeji Benjamin, Kola Karim, Tunde Karim, Karim Olayinka Adebayo and Michelotti Guido Giovanni Maria, sometime n2 2m Lagos and within the jurisdiction of this Honourable Court whilst in the course of doing business on the Oil Mining Lease 30 with the Nigerian Upstream Petroleum Regulatory Commission, having failed to remit tax demanded within the prescribed period and payable to the Federal Government of Nigeria on the executed Purchase Agreement to a Mining Lease 30 and in so doing, committed an offence, contrary to and punishable under S. 40 and S. 49 of the Federal Inland Revenue Service Establishment Act 2007 (as amended).
