Yesterday, Thursday, October 20, 2022, at the Moorhouse Hotel in Ikoyi, Lagos State, the first Initial Creditors Meeting (ICM) to be recorded under Nigeria’s 2020 Companies and Allied Matters Act and the new Insolvency Regulations 2022 was convened. In accordance with his authority as the Company’s Administrator, Mr. Bidemi Daniel Olumide of Anaje Olumide Oke Akinkugbe (AO2LAW) called the meeting to discuss the business of The Moorhouse Company Limited. You may recall that on Friday, July 22, 2022, Justice D.E. Osiagor of the Federal High Court of Nigeria issued an Interlocutory Administration Order on behalf of the Company in the case known as Accor Afrique SA v. The Moorhouse Company Limited, FHC/L/CS/1039/22.
Aligning ESG Practices in the Nigerian Oil and Gas Sector with Climate Change and Nigeria’s Net-Zero Goal by 2060
Nigeria’s oil and gas sector evolved over the decades. The sector has moved from an era where little or no effort was put towards addressing the negative impacts occasioned by oil exploration and other incendiary activities, the failure by the Federal Government (FG) to sign the Petroleum Industry Bill into Law and a plethora of socially related malaise that have affected the host communities; their source of livelihood and their living conditions to one where a robust Legislative framework coupled with Regulations have been put in place to make it align with global best practices.