Honourable Court is urged to direct the Respondent to refund the said funds to
the Applicant together with interest at that rate. In conclusion, the Applicant
urges this Honourable Court to hold that the Applicant is entitled to the refund
of its Three Million Dollars (US$3,000,000.00) from the Respondent with interest
at the rate of 21% per annum from 1st November, 2013 till the date of the actual
refund.
24. The Applicant therefore seeks the following reliefs:
a) A declaration that the continued withholding by the Respondent of the sum
of Three Million Dollars (US$3,000,000.00) property of the Applicants as
suspicious transaction in the circumstances of this application is in breach of the
rights to possession and ownership of property guaranteed by the African
Charter of Human and Peoples’ Rights, Revised Treaty of ECOWAS and the
Respondent’s Constitution and therefore null and void.
b) An order directing the Respondent to release forthwith to the Applicant the
Money with interest at the rate of 21% per annum from 1/11/13 until final
liquidation.
c) Cost of Fifty Thousand Dollars (US$ 50,000.00) in favour of the Applicants.
The Respondent’s case
25. On 21st August 2017, the Respondent lodged its defence and states that the
Applicant (Dexter Oil) and Ritrak Supply & Trade Company limited were both
incorporated under the laws of Liberia to engage in the business of exploration
of liquid and gaseous hydrocarbons and importation/sales of various petroleum
products, trading in oil and every type of petroleum products. That after the
registration of the said companies, the Applicant did not carry out a single
business activity from the date of its registration till date and based on the
review of records at the Ministry of Labour, Immigration, finance and social
security, the Applicant and its affiliate company Ritrak, maintain no physical
presence/office or have any employees in Liberia neither have they paid any
taxes in respect of any business activities undertaken by them in Liberia.
26. The Respondent alleges that after the registration of the Applicant and its
affiliate company Ritrak, one Mr Chukwuemeka Ekwunife opened two accounts
for the companies and designated himself as the sole signatory of both accounts.
Respondent further alleges that after the establishment of both accounts, and
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