The Economic and Financial Crimes Commission (EFCC) will begin full investigation into the $2 billion Malabu Oil Block in a matter of weeks. Already, some of those behind the deal have been running from pillar to post over the probe. MANAGING EDITOR YUSUF ALLI explores the facts and writes on the intrigues surrounding the ‘mysterious’ transaction.

ALMOST 18 years after  the award of Malabu Oil Block, the ghost of the deal is still haunting those who abused their privileged offices.

The Malabu Oil Block was awarded by the administration of former Head of State, the late Gen. Sani Abacha. But, the discreet award has attracted diverse interests, including high-wire politics of betrayal.

Its controversies have survived the administrations of the late Abacha, Gen. Abdulsalami Abubakar, ex-President Olusegun Obasanjo, the late President Umaru Yar’Adua and former President Goodluck Jonathan.  The contract is being revisited by the President Buhari administration.

Since the deal went awry, those involved in the contract have been in and out court in Nigeria and in the United Kingdom (UK). Like a recurring decimal, the more solution is found to the Malabu Oil Block crisis, the more fresh problems arise from the panacea.
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