Bashir who was handed a 10 months jail sentence, had been ordered to comply with requests for the release of 6.400.69 metric tonnes gas oil to Sahara Energy resource Ltd or it's agent from Rahamaniyya oil and gas Ltd, Jetty 6.436181 , Ibafon, kirikiri waterfront,of Aero Maritime Street, Apapa ,Lagos , Nigeria ("The Terminal") .
This was inline with the deal ultimate oil and gas, the trading arm of Rahamaniyya oil in the Dubai multi commodities center (DMCC) entered into a deal with Sahara Energy in 2018 . In the signed contract, Ultimate agreed to buy ,and Sahara agreed to sell 15,000 metric tonnes in the vacuum of gas oil.
A collacteral management agreement (CMA) containing a London arbitration clause was entered into on July 8 , 2018 between the two parties and it was further learnt that Rahamaniyya agreed to store the gas oil at it's terminal pending payment by ultimate.
Premium times reported that Sahara delivered a total of 14,967.159 metric tonnes of gas oil to Rahamaniyya's terminal in Nigeria and also issued invoices for the gas oil on October 26,2018 for USD 10,760,728.77. The payment should have been made by August 29, 2019 but ultimate defaulted in Making necessary payments.
Justice Butcher who delivered the third order following at 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 a binding indication that the sentence could be reduced to six months if Mr Bashir complies with the relevant order which had previously been breached . He was also fined £500,000 while Adebowale Aderemi , it's manager was fined £10,000.
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