After the Storm, Risqua Murtala Muhammed Hits His Stride

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There is no gainsaying Risqua Murtala Muhammed, one of the children of the late Head of State, Murtala Mohammed and the boss of the indigenous oil and gas company, AMG Petroenergy Limited, displays unusual abilities and passion for excellence. He is rock solid in depth and proficiency hence his unfading appeal to the hierarchies of Nigerian National Petroleum Corporation (NNPC). He is now extremely powerful in the oil and gas sector.

Nobody jostles with him or butt heads with him within NNPC and the private business sector. So reputable is Riqua that he effortlessly commands the respect and loyalty of his numerous clients and associates within and outside government and private business circuits. No wonder, he was one of the oil barons from the north that President Buhari gave crude oil lifting contracts.

All thanks to the Mr President, Riqua has bounced back big time. Sometime back, the company was ordered by a Federal High Court not to tamper with their funds in any financial institution in Nigeria pending the hearing and determination of a debt recovery suit filed against them by Guaranty Trust Bank (GTB). GTB had filed the suit against the defendants (AMG and Risquat Mohammed) over their refusal to liquidate a multi-million dollars credit facility obtained from the bank despite repeated demands of payment.

GTB granted AMG Petroenergy Limited two import finance credit facilities in the sum of $40 million to the defendants, with an additional existing term loan of N630 million, for the purpose of financing the establishment of local letters of credit in favour of NLNG, NNPC/PPMC and NGL to fund the payment of Gas/Condensate/Naphtha lifted based on allocation to the company by the Federal Government. However, business did not go as planned and Risquat and his company defaulted in repayment. Today, Risqua is bobbing and weaving with excitement.