According to a judgment by Justice Taiwo Taiwo, the amount formed the shares of the $62 billion said to have been recovered from some oil firms by the Fed Govt.
The judgment was on the suit by the Attorney Generals of Rivers and Akwa Ibom states with the Attorney General of the Federation (AGF) and Minister of Justice (AGF) as the only defendant.
Justice Taiwo held that the FG admitted that the monetary claims of the two states against it by its refusal to defend the case when served with the court processes.
He said the filing on mere notice of intention to defend the case, without proceeding to join issues with the plaintiffs, was a fatal error on the part of the AGF.
The Judge held that the AGF admitted all the averments of the two states to be true by refusing to debunk, counter claim or controvert the claims of the two states on the oil revenue issue.
He equally held that the plaintiffs’ suit was founded on a Supreme Court judgment on how proceeds from sales of crude oil should be shared.
Source: The Nation
