These two great ocean currents interact creating huge foamy breakers which constantly advance towards the shore, and building submarine shoals rich in fish, shrimps, and an amazing variety of other marine life forms. This makes the Bakassi area a very fertile fishing ground, comparable only to Newfoundland in North America and the Scandinavia in Western Europe.
Bakassi was founded around 1450 AD by the Efik, and within the political framework of the Kingdom of Old Calabar. It is therefore owned and inhabited by the Efik, one of the tribes of the Negro Race of West Africa. During the European scramble for Africa, Her Britannic Majesty Queen Victoria, signed a Treaty of Protection with the King and Chiefs of Old Calabar on September 10, 1884; and this enabled Great Britain to exercise control over the entire territory of Old Calabar, including Bakassi.
Of recent rich reserves of high grade crude oil have been discovered in Bakassi; and at least eight multinational oil companies are presently contending with the exploration and exploitation of this all important resource. Little wonder then that Cameroon is bitterly contesting political authority over Bakassi with Nigeria. On 29 March 1994 Cameroon filed an application at the International court of Justice (ICJ), the Hague, The Netherlands, praying the World Court to declare that sovereignty over Bakassi belongs to Cameroon. The matter is still before the World Court.