The apex court dashes the hope of the Cross River State government which had hoped to shore its revenue profile with the oil assets
The Supreme Court has just ruled, awarding the contentious 76 oil wells to Akwa Ibom State.
The wells were awarded to Akwa Ibom after the ceding of Bakassi Peninsula to Cameroon.
In a unanimous verdict, the court dismissed the suit by the Cross River State government, saying Akwa Ibom is the rightful owner of the asset and that the Cross River State argument lacked substance and merit.
Cross River had urged the apex court to hault judgement on the matter, saying the map presented to the court by Akwa Ibom was fraudulent and could not be relied upon.