datguru:
APC will be a history come February 2015, then fresh air continues

Sirniyeh:
www.thisdaylive.com/articles/opposition-party-tackles-jonathan-over-malabu-oil-deal/191179/


The All Progressives Congress (APC) has asked President Goodluck Jonathan to urgently take action on the monumental Malabu oil scandal that is again putting Nigeria under the global searchlight as a corrupt nation.

In a statement sunday by its National Publicity
Secretary, Alhaji Lai Mohammed, the party said
Jonathan must end his silence on the matter since half of the $1.1 billion paid to Malabu Oil and Gas for Oil Prospecting Lease (OPL) 245 by two oil majors was allegedly used to bribe Nigerian officials who, in turn, used the proceeds to buy private jets and armoured limousines.

The $1.1billion proceeds paid to Malabu oil company
was shared by some private firms owned by people
very close to the presidency, a report by an anti-graft
agency shows.

The sum of $1.092bn was paid by ENI AGIP and Shell
into depository Escrow Account domiciled in JP
Morgan Chase Co, London as proceeds for the sale of
oil block OPL 245 on 25, March 2011, the Economic
and Financial Crimes Commission (EFCC) report, which investigated the deal shows.

The report said that by August 16, the Attorney General and Minister of Justice Mohammed Adoke and the State Minister for Finance Dr. Yerima Lawal Ngama "instructed the release of $401, 540, 000" into Malabu Oil and Gas Ltd accounts domiciled with First Bank of Nigeria and $400 million into another Malabu accounts with Keystone Bank (former Bank PHB).

The EFCC report said "JP Morgan complied with this
instruction and made the transfers on 23 August, 2011." Malabu, controlled by Chief Dan Etete, ex-oil
minister, who was convicted of money laundering in
France in 2007, further shared these monies to several other accounts belonging to individuals with very close ties to the presidency.

The following day, of the $400 million deposited at the Malabu's Keystone bank account, $336 million was transferred to Rocky Top Resources Ltd's account No 1005556552 with Abuja CBD branch of the same bank. The remaining balance of $60 million was transferred to account No 3610042596 (allegedly belonging to Etete) for forex trading, leaving zero balance with Malabu's Keystone bank account.

Of the $336 million transferred into the Rocky Top
Resources account, $165 million was subsequently
transferred into various individual accounts, leaving
the balance of only $171 million, the anti-graft
agency's report said. Rocky Top Resources, the report said, was registered with the Corporate Affairs Commission (CAC) with 100,000 shares capital only and is owned by one Abubakar Aliyu.

The report said that first payment of $401 million to
Malabu's First Bank account was distributed directly to A Group Construction Co. Ltd-also co-owned by
Abubakar Aliyu ($157m); Mega Tech Engr. Co. Ltd
($180M); Imperial Union Ltd ($34m); Novel Property
and Development Ltd-also co-owned by Abubakar
Aliyu ($30m); leaving the balance of $143 million
Malabu's account. And "reasons for this payment is yet to be ascertained," the EFCC report said.

danaiks:
These apc guys just love ranting shaaa

Not like they are gonna win da upcoming election ooo :/

Mogidi:
APC propagandist Lai Mohammed is not called Lai Lai Mohammed for nothing, this man deserves national award for twisting facts on its head.

idris4r83:
if its a lie he wont come out say it.

Chuks16:
APC AGAIN?

Mogidi:


Thats part of his job description, its his job to lie. He's name's Lai Mohammed for a reason.

idris4r83:
u should b thankful to apc for exposing the thieves looting out treasury

mifavour:
don't ve anything to say. lemme book space

Segeggs:
thank goodness it's not corruption

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