Lago Base Maritime Sues Navy for N771 Million Over Vessel

Lago Base Maritime Company, through its managing partner Bukoy Omoyemi, has filed a high-stakes lawsuit against the Nigerian Navy and the Attorney General of the Federation (AGF) in the Federal High Court in Lagos. The suit, marked FHC/L/CS/793/2026, seeks N771 million in damages, which includes the purchase price of the vessel, legal fees, and costs associated with instituting the suit.

The company claims it paid N130 million for the vessel MT Dejikun in July 2024 but has been denied possession due to alleged unlawful interference and disobedience to a court order. The firm is asking the court to declare that the Chief Registrar and Deputy Chief Registrar breached the contract of sale by failing to complete the auction process.

They also seek to rescind the contract of sale due to the failure to deliver the vessel, which has resulted in deterioration and loss of value. Additionally, the company demands a refund of the purchase price with interest and N500 million in punitive damages for the wrongful denial of possession.