Malabu Oil Deal: Corrupt Nigerian officials bought private jets, armoured cars with N83 billion bribe

More than half of the N171.32 billion ($1.1 billion) paid to Malabu Oil and Gas for the procurement of one of Nigeria’s richest oil fields, OPL 245 by Shell and Eni was used to bribe Nigerian politicians and intermediaries who helped to secure the controversial deal, Reuters is reporting.
According to a letter seeking the help of UK’s Crown Prosecution Service (CPS) to freeze the assets of those involved, Italian prosecutors said some of the N83 billion ($533 million) slush money was used to buy private jets and armoured vehicles.
“We are investigating many money transfers to many people in various countries who received sums that vary from millions of dollars to thousands of dollars,” Reuters claimed the letter reads.
British prosecutors acting on the request have already frozen two accounts with combined sum of N29.5 billion ($190 million) belonging to the chief intermediary, Emeka Obi.
Former oil minister, who was convicted for money laundering in France, Dan Etete, owns Malabu Oil and Gas. The company was incorporated five days before the oil block was awarded to it in 1998 during the regime of military dictator, Sani Abacha.
While trying to cover his link with the company, Mr. Etete registered the company with a fictitious director, Kweku Amafegha. The company also listed a fake address in registration documents.

Mr. Etete confessed to a British court in 2013 that former President, Olusegun Obasanjo, demanded a slice of the oil block as bribe.
The Federal Government acted as a conduit for the fund after Shell and Eni raised concerns over transferring the money directly to Malabu due to Mr Etete’s conviction.
PREMIUM TIMES investigation revealed that after the money was paid to the Federal Government account, it transferred N120 billion ($801 million) to Malabu’s account.
The Attorney General of the Federation, Mohammed Adoke, and Minister of State for Finance, Yerima Ngama, authorized the transfers.
The company subsequently transferred the money to shady companies with fake addresses.
Despite overwhelming evidences showing that Shell and Eni are aware that the money would be paid to a character with a shady background, officials of the companies have denied any wrong doing in the affair.
For instance prosecutors said that a senior official of Shell had a face-to-face meeting with Mr. Etete over expensive “lunch and lots of iced champagne” few moths before the money was transferred to the Nigerian government.
An email presented during the trial also mentioned that the Shell official who feted with Mr Etete would refer to someone in The Hague known as “Peter” over the terms of the deal. Curiously, Shell’s CEO is named Peter Voser.
The Italian prosecutors are investigating the role of Eni’s former CEO, Paola Scaroni and his successor Claudio Descalzi, for alleged international corruption over the scandal.

Source: Premiumtimesng

Give me news abeg..ds one na regular occurrence!

SLIDEwaxie: Give me news abeg..ds one na regular occurrence!

Yes regular occurrence but in this case the international community are involved, investigating and seizing the assets of these theives. We need to be more concerned because our inaction is leading to more impunity and much bigger sums being stolen.

Izadibabe:

Yes regular occurrence but in this case the international community are involved, investigating and seizing the assets of these theives. We need to be more concerned because our inaction is leading to more impunity and much bigger sums being stolen.

bros, if they start doing that, then u can post some 'news'

Please I need someone to tell me when revolution will take place in this country. It's like our politicians are taking us for granted. We speak a lot of grammar when someone from nowhere is trying to cheat us on our 10naira. I've seen a banker fighting Agbero over change in lagos. Is it that we don't care that all this billions shared by few people doesn't belong to us or what's the problem? I believe the best opportunity we lost to start revolution was during the immigration exam,I believe with the large crowd in different states especially Lagos and Abuja no number of force can withstand that. Nigerians we need to see beyond our nose, APC and PDP are the same,cross-carpeting everywhere. Our own party should be revolution.

shakol91: Please I need someone to tell me when revolution will take place in this country. It's like our politicians are taking us for granted. We speak a lot of grammar when someone from nowhere is trying to cheat us on our 10naira. I've seen a banker fighting Agbero over change in lagos. Is it that we don't care that all this billions shared by few people doesn't belong to us or what's the problem? I believe the best opportunity we lost to start revolution was during the immigration exam,I believe with the large crowd in different states especially Lagos and Abuja no number of force can withstand that. Nigerians we need to see beyond our nose, APC and PDP are the same,cross-carpeting everywhere. Our own party should be revolution.

I agree wholeheartedly that we need a popular revolution. Italy had an internet revolution at the height of the recession few years ago, a group of young people formed an internet party and registered it then voted their people into political positions to knock out the old crooks and the corruption in that country was not the issue, their concern was all about how to rescue their economy. All our hardship in Nigeria are self inflicted because of these long time crooks calling themselves politicians. We need young well meaning Nigerians to really get involved in politics as a lot of us are very active in online politics but we need to translate that into reality.

Izadibabe:

Yes regular occurrence but in this case the international community are involved, investigating and seizing the assets of these theives. We need to be more concerned because our inaction is leading to more impunity and much bigger sums being stolen.

Yes the international community is involved so also involved are international accomplices. So watz ya point. If shell knew the deal was shady why pay the money b4 blowing the whistle? Why not blow the whistle first and watch the stampede? They blew the whistle cause people they paid money to absconded and didn't honor their part if the deal. So who is fooling who? And who is corrupt here?

drnoel:

Yes the international community is involved so also involved are international accomplices. So watz ya point. If shell knew the deal was shady why pay the money b4 blowing the whistle? Why not blow the whistle first and watch the stampede? They blew the whistle cause people they paid money to absconded and didn't honor their part if the deal. So who is fooling who? And who is corrupt here?

They are all corrupt. I do not make any excuses for international oil companies like Shell and Eni as they always act in collusion with the thieving public officials, if not there will be no money for any kickbacks - if no market then there won't be customers.

I think they should also be investigated as part of this to make it more transparent. In the west they usually go after any Executive that participates in such foul play.

Normal news

Izadibabe:

I agree wholeheartedly that we need a popular revolution. Italy had an internet revolution at the height of the recession few years ago, a group of young people formed an internet party and registered it then voted their people into political positions to knock out the old crooks and the corruption in that country was not the issue, their concern was all about how to rescue their economy. All our hardship in Nigeria are self inflicted because of these long time crooks calling themselves politicians. We need young well meaning Nigerians to really get involved in politics as a lot of us are very active in online politics but we need to translate that into reality.

our situation in this country will remain has number 1 photo as long as number 2 photo is majority's option

Izadibabe:

PREMIUM TIMES investigation revealed that after the money was paid to the Federal Government account, it transferred N120 billion ($801 million) to Malabu’s account.

The Attorney General of the Federation, Mohammed Adoke, and Minister of State for Finance, Yerima Ngama, authorized the transfers.

So Jonathan, Adoke and Ngama got $300m from the oil block they help a criminal award himself.

Pendusky, oya come and pray for your leaders o.

Izadibabe:


I agree wholeheartedly that we need a popular revolution. Italy had an internet revolution at the height of the recession few years ago, a group of young people formed an internet party and registered it then voted their people into political positions to knock out the old crooks and the corruption in that country was not the issue, their concern was all about how to rescue their economy. All our hardship in Nigeria are self inflicted because of these long time crooks calling themselves politicians. We need young well meaning Nigerians to really get involved in politics as a lot of us are very active in online politics but we need to translate that into reality.

And why don't we form our own right now,as in right away,am sick and tired of youth who do nothing but glady watch our crooked an wicked leaders stealing our commonwealth,and then keep telling us to "do a sober reflection "every 1st of October
So,I SIGN UP!

Sagamite:


So Jonathan, Adoke and Ngama got $300m from the oil block they help a criminal award himself.

Pendusky, oya come and pray for your leaders o.

Pray Like this below

donodion:


Pray Like this below

I like this El-Rufai.

Although pendusky's prayers are the opposite. He likes to pray for useless people to enjoy the benefits their corruption cannot afford him.

https://www.nairaland.com/1056780/nairaland-prayer-network-patience-jonathan

Sagamite:


I like this El-Rufai.

Although pendusky's prayers are the opposite. He likes to pray for useless people to enjoy the benefits their corruption cannot afford him.

https://www.nairaland.com/1056780/nairaland-prayer-network-patience-jonathan

Ive seen the thread bruv..na so me sef laaaaaaaaaaaff...Their eyes are yet open....but we keep throwing the truth in their faces nevertheless.

Rubbish! Atiku, obj n d northerners should allow south south people that own the oil to own oil blocs! Only this one they all want to kill themselves! Ok hw did Atiku own oil blocs n intel? Who is accusing him? What abt Rano AA? What abt Femi Otedola fronting for Obj! What about jimoh ibrahim n Conoil? They should kill themselves! What about d richest woman in Africa that was a tailor! How did she owe oil blocs? Hypocrits! By next yr, all u up north n west that owe oil blocs in d south ll loose them to the rightful owners! The niger deltans!