New Telegraph

NNPC Ltd Seeks To Withdraw Suit On Exxonmobil’s $1.28bn Asset Divestment To Seplat

The Nigerian National Petroleum Company Limited (NNPC) has filed a motion in the High Court of the Federal Capital Territory, Abuja praying it to discontinue its ongoing litigation action against some subsidiaries of Mobil Nigeria and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

The NNPC Ltd’s application was presented by its legal counsel Afe Babalola & Co. It prayed the court to grant leave for discontinuance and to strike out the suit, with the provision to relist it should the settlement process fail.

One of the conditions in the motion, stipulated in the Settlement Agreement, requires NNPC to withdraw the suit to facilitate the settlement.

NNPC’s legal team explained that the suit’s discontinuance is important to complete the settlement process and that the application complies with Order 24 of the High Court of the Federal Capital Territory Civil Procedure Rules 2018.

“The applicant humbly urges Your Lordship to grant leave to discontinue this suit and consequently strike it off the court’s cause list.”

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