Rahmandiyya Oil expresses commitment to agreement with Sahara Energy

The management of oil and gas giants, Rahamandiyya oil has expressed it’s commitment to fulfill the agreement it signed with Sahara Energy over the buying and selling of 15,000MT gas oil deal between the firms in 2018

Abdulrahman Bahsar, the Group Managing Director of Rahamaniyya Oil & Gas made the clarification while reacting to a report that he had defaulted in the agreement and has in turn been found guilty by a London Court

The MD clarified that an agreement was reached between Ultimate Oil & Gas, Sahara Energy & Rahamaniyya Oil & Gas on a payment plan for balance of cargo dues owed to Sahara Energy to be effected between Dec 2019 and 31 Jun 2020.

Speaking through Dada Awosika, his Legal Adviser in a statement issued in Abuja on Thursday, the oil and gas businessman explained that as part of the agreement, Sahara would relinquish claim over cargo return while Rahamaniyya would withdraw proceedings against Sahara in Nigerian court.

He stated that on June 5, 2020 a revised payment agreement was concluded by all parties and is expected to be completed latest by Feb 2021.

“On July 9, 2020 final award was granted in the matter of arbitration by Sole Arbitrator awarding Sahara monies in respect of cargo dues, interest and legal costs

“In Service of the agreement dated 5 Jun 2020, N100milion was paid by Rahamaniyya to Sahara Energy on 10 August, 2020 into its Nigerian account at FCMB and N130million on 20 August, 2020.

“In light of recent rumors circulating, to do with criminal conviction of Mr. Abdulrahaman Musa Bashar, the C&MD of Rahamaniyya Oil & Gas, in the above mentioned case, we wish to clarify that such claims are false, harmful & misleading. Mr. Bashar is a law abiding citizen who remains free based out of his home in Abuja, Nigeria.”

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