The Federal Government Thursday revealed that it had recovered $85 million from the United Kingdom, as part of illicit proceeds from the infamous Malabu Oil deal.

The Attorney General and Minister of Justice, Abubakar Malami, made the disclosure at the ongoing consultative meeting on assets recovery in Abuja.

Malami however lamented the non-compliance of some countries which have continued to hold on to stolen assets against the terms of several treaties signed with the Federal Government to facilitate the return of the assets.

The Malabu Oil scandal has remained alive through different administrations, expanding to include more and more officials of government and top private sector businessmen as it continues to unfold.

Malabu Oil and Gas Ltd, co-owned by former Nigerian petroleum minister under the Abacha regime, Dan Etete, was awarded the controversial OPL 245 in 1998 by the Abacha regime, following which Malabu appointed Shell as its technical adviser.

After the death of Abacha however, legal tussle ensued between Malabu and Shell over the oil bloc.

Full details: https://www.ripplesnigeria.com/nigerian-govt-claims-recovered-85m-u-k-scandalous-malabu-oil-deal/