Ziklagsis Network Ltd, a metering company, has filed a lawsuit at the Federal High Court in Abuja to restrain the Federal Government and the Federal Ministry of Power from recovering N39.1 billion allocated for a metering contract.
The company, through its counsel Wole Olanipekun (SAN), is also seeking N1.1 billion in damages and legal costs.
Other defendants in the suit include the Debt Management Office, Providus Bank Ltd, and De-Haryor Global Services Ltd.
Ziklagsis claims that under a Judgement Compromise Agreement (JCA) signed with the Ministry of Power on August 28, 2017, the government lacks the authority to seize or withhold the N39.1 billion loan meant for supplying electric meters in Nigeria.
The company cited the COVID-19 pandemic as the reason for its failure to execute the contract.
The firm further accused the government and the ministry of frustrating its efforts to fulfill the agreement, despite presidential approval and contract awards.
In response, the Federal Government and the Minister of Power denied any wrongdoing, stating their actions complied with the agreement.
Providus Bank also refuted Ziklagsis’s claims, arguing the company merely sought higher interest on its fixed deposit.
De-Haryor Global Services Ltd, an electricity installation company, described the suit as being filed in bad faith.
It alleged that Ziklagsis failed to supply prepaid meters despite receiving N39 billion, instead placing the funds in a fixed deposit account.
Justice James Omotosho has set February 4, 2025, for the hearing.
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