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Nairaland Forum / Nairaland / General / Politics / FG Explains Role In N155bn Malabu Oil Scandal (6136 Views)
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FG Explains Role In N155bn Malabu Oil Scandal by youngies(m): 7:20am On May 28, 2012 |
The Federal Government on Sunday responded to a scandal allegedly involving President Goodluck Jonathan, two ministers, a former minister of petroleum and two multinational oil firms. The response, which came in the form of a statement issued by the Minister of Justice and Attorney-General of the Federation, Mr. Mohammed Adoke (SAN), came almost a week after the scandal had first broken. However, the statement was silent on the claim in the report that the transaction was facilitated by President Jonathan and senior government officials who might have benefitted from the deal. Global Witness, an international non-governmental organisation that promotes the protection of human rights and the sustainability of natural resources, had alleged in a report that the Federal Government round-tripped a sum of $1.092bn for oil block OPL 245. The report entitled, “Shell’s obscure payments kill its case for weak US and EU transparency laws”, alleges Nigerian subsidiaries of both Shell and ENI paid $1.092bn (N155bn) to the Federal Government for OPL 245. It further says that senior government officials, at the behest of President Jonathan, then paid the entire N155bn to Malabu Oil and Gas, a company owned by Mr. Dan Etete, a former oil minister under the late General Sani Abacha. An online medium, PREMIUM TIMES, last week, had stated that the money was later shared among government officials and some private individuals. But Adoke, in the statement, said the allegation was without basis, adding that the government only paid the role of a “mere facilitator of an amicable settlement between two disputing parties over a long standing dispute with obvious economic implications for the country.” He described reports to the contrary as ““misrepresentations and obvious mischief in reporting the role.” After its efforts to get government officials to speak on the matter proved abortive, The PUNCH, on Friday, had reported that government was unwilling to comment on the matter. But Adoke, in the statement, argued that the Federal Government and its agencies should not be dragged into a purely commercial dispute. According to him, Malabu and other indigenous oil and gas companies were allocated oil blocks which they were expected to develop in partnership with international oil companies as technical partners. He further explained, “Malabu was allocated OPL 245 in April, 1998 and in accordance with the terms of the grant, it appointed SNUD as its Technical Partner. “The two companies executed relevant agreements including a joint operation agreement in 2001. Records indicate that Shell Nigeria Ultra Deep Limited took 40 per cent participating interests in the venture in a farm-in- agreement and also signed agreement with Malabu as its technical partner for the venture.” He stated that although Malabu was issued a licence for Block 245 in April 2001, the same licence was subsequently revoked by the Federal Government on July 2, 2001. Adoke said that Exxon-Mobil and Shell were invited in April 2002 to bid for OPL 245 despite subsisting contractual agreements between Malabu and SNUD with respect to OPL 245. The minister said, “Malabu was dissatisfied with the revocation and contended that the circumstances leading to the revocation of its licence on Block 245 was less than transparent and smacked of inducement and connivance from SNUD, its technical partner. “Malabu also contended that the subsequent re-award of OPL 245 to SNUD by the Federal Government was done under questionable circumstances. It then petitioned the House of Representatives Committee on Petroleum to look into the matter.” He noted that the House of Representatives Committee on Petroleum had found no rational basis for the revocation, reprimanded Shell for its complicity and directed the Federal Government to restore OPL 245 to Malabu, the original allotee. The minister disclosed, “Malabu also instituted Suit No. FHC/ABJ/CS/420/2003, before the Federal High Court (FHC), Abuja to enforce its claim to OPL 245. Although the suit was struck out by the FHC, Malabu lodged Appeal No. CA/A/99M/2006 before the Court of Appeal, Abuja, Division. “During the pendency of the Appeal, an amicable settlement was entered into between Malabu and the Federal Government and in compliance with the terms of settlement executed by the Parties on the 30th of November 2006, OPL 245 was fully and completely restored to Malabu in consideration of its withdrawal of the Appeal.” More: http://channelkoos.com/index.php/news/1635-fg-explains-role-in-n155bn-malabu-oil-scandal |
Re: FG Explains Role In N155bn Malabu Oil Scandal by hotwax: 9:16am On May 28, 2012 |
A failed state |
Re: FG Explains Role In N155bn Malabu Oil Scandal by stepo707: 9:22am On May 28, 2012 |
Mtcheeeew! Next please |
Re: FG Explains Role In N155bn Malabu Oil Scandal by gulfer: 9:31am On May 28, 2012 |
And it continues to slide downhill.....Nigeria! |
Re: FG Explains Role In N155bn Malabu Oil Scandal by ijigbamigb(m): 9:34am On May 28, 2012 |
DEM GO SOON DABARU EVERYTHING DEM GO SEY MONEY NO LOST AGAIN...OGA O (FELA ANIKULAPOKUTI...) |
Re: FG Explains Role In N155bn Malabu Oil Scandal by Revolutnz: 9:50am On May 28, 2012 |
Nigeria is in deep shi.t.God help us. |
Re: FG Explains Role In N155bn Malabu Oil Scandal by Nobody: 9:53am On May 28, 2012 |
A couple of questions: 1. Why did it take almost a full week to respond? Were they concocting a response? 2. How did a former oil minister get the funds to own an upstream oil company? 3. Why was the payment approved a day before Madam NOI assumed office? Coincidence? 4. What was the basis for the valuation of that settlement? A whole $1.1 billion? 5. Csn the FG show proof that the money was transferred fully to Malabu's account, and that no official received kickbacks? 1 Like |
Re: FG Explains Role In N155bn Malabu Oil Scandal by abdul123(m): 9:58am On May 28, 2012 |
on day dey come we go look for watin to sell for naija we no go see again, wen dem don begin dey sell d whole oil blocks out wating go come remain well its good sha we wud return back to d same agriculture we are running from now!!! |
Re: FG Explains Role In N155bn Malabu Oil Scandal by kaeto(m): 10:16am On May 28, 2012 |
So corruption is the only thing i wake up to read about my country,GOD! We must all put our hands off the moon,we can't keep staring like Bluetooth, haba! |
Re: FG Explains Role In N155bn Malabu Oil Scandal by davechika(m): 10:30am On May 28, 2012 |
Scams and Counter Scams....and the mother of all Scams is comin out soon!! and that Scam is Nigeria has been sold to.........(cabals and west).. for 20 trilion dollars. |
Re: FG Explains Role In N155bn Malabu Oil Scandal by doofanc: 10:34am On May 28, 2012 |
kaeto: So corruption is the only thing i wake up to read about my country,GOD! sad but very true. Even more lamentable is the staggering dimensions it has assumed. Its all billions we hear now. Millions evidently have ceased to suffice for these insatiable kleptomaniacs. God help us. :-( |
Re: FG Explains Role In N155bn Malabu Oil Scandal by HisMajesty1(m): 11:11am On May 28, 2012 |
''The FG should not be dragged into what is a purely commercial matter'' . Since when did Adoke turned into the FG's spoke person? 1 Like |
Re: FG Explains Role In N155bn Malabu Oil Scandal by Nobody: 11:14am On May 28, 2012 |
How do oil wells get allotted 4 crying out loud? Imagine that huge money is going 2 an individual's pocket not d communities! Jesus Christ!! Den of thieves! See them sharing d wealth of a community 2 their cronies! Meanwhile d people that suffer d environmental degradation r left 2 suffer n die!! NigerDelta shame on u guys!!! Years from now ur oil will be no more, ur environment would have been gone by then n ur children will suffer the consequences!!!! The rest of naija no go even send una!! Make hay will the sun shine.... OCCUPY ur territory now!!! These politicians don't give a rat's ass about u guys!!!make una dey there! Mtcheeeew!! I laff in ijaw!!!! |
Re: FG Explains Role In N155bn Malabu Oil Scandal by Nobody: 11:22am On May 28, 2012 |
Do we still need more convincing proof that GEJ's administration is the most CORRUPT civillian rule in the history of Nigeria. . . |
Re: FG Explains Role In N155bn Malabu Oil Scandal by carlos86: 11:26am On May 28, 2012 |
hotwax: A failed state Let's pray we don't get to the level of Somalia |
Re: FG Explains Role In N155bn Malabu Oil Scandal by carlos86: 11:27am On May 28, 2012 |
breezy047: Do we still need more convincing proof that GEJ's administration is the most CORRUPT civillian rule in the history of Nigeria. |
Re: FG Explains Role In N155bn Malabu Oil Scandal by lekzyn(m): 11:31am On May 28, 2012 |
GEJ has show to d world dat is administration is d worst so far in 9ja.Alot of killing and coruption everywhere....Wahala dey oooh |
Re: FG Explains Role In N155bn Malabu Oil Scandal by inene: 11:37am On May 28, 2012 |
if the oil block was restored, what was the reason for the payout of over a billion dollars. Haba Adoke. We are not children in kindargaten. Tell this story to the Marines. One day we will know all the beneficiaries of the slush fund just as in the case of the Haliburton where a former President was complicit in sharing bribe money. See how we have devalued the office of the President of Nigeria to the extent that its now a conduit for sharing bribe money. How the outside world would be laughing at us. |
Re: FG Explains Role In N155bn Malabu Oil Scandal by Piyke: 12:08pm On May 28, 2012 |
Oh beloved Nigeria when shall thy wound heal? Open your mouth and swallow the corrupt that have kept you down, And take up thy place amongst thy equals, I wait. |
Re: FG Explains Role In N155bn Malabu Oil Scandal by Chanchit: 12:45pm On May 28, 2012 |
My people in the SS, don't worry, ur son is bringing home the money, and he would share it equally... Keep supporting GEJ, he would even help u sell ur lands, so u can build ur houses on water... Na mosquito and bacteria go kill una finish.... "HE'S OUR SON..! NA OUR PIKIN...!!" Make una no talk truth till pikin go kill papa.... Mtcheeew.. |
Re: FG Explains Role In N155bn Malabu Oil Scandal by Kobojunkie: 12:52pm On May 28, 2012 |
If OPL 245 was restored to Malabu in the early 2000's, why did Shell pay this $1.1 Billion to the Federal Government for the same OPL 245? Why did the Federal Government decide to act as the middle-man in this deal, if it was really meant to be between Shell and Malabu? The FG responding to this suggests it is involved, however, WHY remains my question? Two private entities can take care of their own issues in the courts. That is what we have them for. Is this by any chance part reason why the EFCC Chair is also being attacked by the SSS? |
Re: FG Explains Role In N155bn Malabu Oil Scandal by olajide8(m): 12:54pm On May 28, 2012 |
And if I am to ask what is this to mean let me state were the corruption comes from 10m to the SSS officials to book an appointment a non scheduled appointment smuggle you on the list, from the pilot gate, 10m to the secretary, and the principal advisers, to the president on oil and gas and 50m to DAME to talk to GEJ when he is drunk, why can't they just allow due process, rather then NEPOTISM and FAVOURITISM, give standing orders to the courts to expediently handle all cases, I can also tell you they would have settled a few people for change of ownership and they pay in dollars, so you and EFCC, can't trace it e.g I was told that to see DAME for a contract that was awarded to her company and she wanted to look for technical partners to help her with the contract, you have to pay 1m to her P.A in dollars and 1m to her SA, and the specific desk officer, would collect 5m while she gives you her business card and calls the issuing MDA's, and you are done with her, while she taking 16% how true I don't know I have really had the opportunity to do that but in every rumour theirs an element of truth. So I still believe they would either do trade by barter exchange we help you, you patronise our shipping line or you just pay for our ship loading water et al. |
Re: FG Explains Role In N155bn Malabu Oil Scandal by Kobojunkie: 12:57pm On May 28, 2012 |
This story, like many others get as e be . . . Our subsequent investigations later showed that the Economic and Financial Crimes Commission (EFCC) had indeed investigated the deal, concluding that the transaction pointed at a “cloudy scene associated with fraudulent dealings.†http://www.ocnus.net/artman2/publish/Africa_8/OPL-245-Again.shtml |
Re: FG Explains Role In N155bn Malabu Oil Scandal by Beaf: 1:00pm On May 28, 2012 |
All anyone has to do nowadays is publish manufactured material concerning any huge payment in Sahara Reporters and NL proclaims it a scandal. I wasn't interested in the other topic about this matter that was based on the usual ethereal "sources" and was ridiculous beyond measure. It is stup!d to say that Shell was laundering money through Etete (whose money. FG officials somehow got), it is just daft and off scale. How is the FG concerned in a dispute between Shell and Malabu? Apart from that the FG handles oil transactions. Once again, it was a commercial dispute between Shell and Malabu - two independent, private companies. These days though, many seem to take pride in not understanding what they are reading. Simply add the word "billion" and many stop reasoning altogether. That isn't good enough. Anyway, I've had enough of these brainless topics designed for winshes and lovers of negative "news." |
Re: FG Explains Role In N155bn Malabu Oil Scandal by Beaf: 1:07pm On May 28, 2012 |
The most I can make from the matter is that it is a battle between Etete and the Abacha's, cos the Abacha's are stinging from being dumped from the company. Anyway, winshes, enjoy unasef jare! Winshes must fly and suck blood anyway! All hail Obubra airways! |
Re: FG Explains Role In N155bn Malabu Oil Scandal by kay10: 1:33pm On May 28, 2012 |
155billion is enough to fully restore electricity back to normal.155 billion is too much to be embezle by just one person This country is doom.Let continue intensify prayer may be God could answer us. |
Re: FG Explains Role In N155bn Malabu Oil Scandal by Sweetlemon(f): 1:34pm On May 28, 2012 |
Chanchit: My people in the SS, don't worry, ur son is bringing home the money, and he would share it equally... Keep supporting GEJ, he would even help u sell ur lands, so u can build ur houses on water... Na mosquito and bacteria go kill una finish.... "HE'S OUR SON..! NA OUR PIKIN...!!" Make una no talk truth till pikin go kill papa.... Mtcheeew..Me, I disowned him on jan 1st. My pikin no fit kill me. lai lai! |
Re: FG Explains Role In N155bn Malabu Oil Scandal by Nobody: 2:14pm On May 28, 2012 |
But seriously though, how can someone allocate the deepest oil well ever(9 billion barrels of oil!) in Nigeria to himself? Thats first class greed! Greed has destroyed Nigeria. . . and these IOC's, we are letting them ruin our lives. I was very disturbed when I learnt that the NNPC or any other indigenous oil firm won't be involved in the drilling of OPL 245. This is what we've done to ourselves. |
Re: FG Explains Role In N155bn Malabu Oil Scandal by Nobody: 2:18pm On May 28, 2012 |
Who is this Mr Abubakar Aliyu anyway, I've never heard of him before. . . and how come he is recieving such a huge amount from the deal? Is this story credible anyway? |
Re: FG Explains Role In N155bn Malabu Oil Scandal by philips70(m): 5:57pm On May 28, 2012 |
Beaf: All anyone has to do nowadays is publish manufactured material concerning any huge payment in Sahara Reporters and NL proclaims it a scandal. Beaf: The most I can make from the matter is that it is a battle between Etete and the Abacha's, cos the Abacha's are stinging from being dumped from the company. Must you make all these daft defence all the time? Even if you are doing your job as Presidential spokesperson on Nairaland matters can't you just pass some obvious issues of corruption hanging on your paymaster? With that daft defence from Adoke it still doesn't dawn on you to think that this your principal is just as corrupt as Ibori, Odili, Babangida, Igbinedion, etc? Anyway, do your job, you sure need to put food on your family's table whether Nigerians are dying from the effects of corruption or not. Corruption has turned to a way of life here and your generation yet unborn will suffer too from it. Enjoy your proceeds now...... |
Re: FG Explains Role In N155bn Malabu Oil Scandal by Oluwadare: 8:27pm On May 28, 2012 |
Sincerely if care is not taking one will just faint and never wake up again with all these nonsense embezlement,#155 billions oga o |
Re: FG Explains Role In N155bn Malabu Oil Scandal by novaman: 5:09pm On May 29, 2012 |
@BEAF Even if GEJ is your brother you are not painting him in good light, in fact if your duty is to make people love him you are doing a bad job, at least for once be neutral and listen to your statements to see how cynical they sound, please act like a grown man that I know you are and stop making people hate GEJ the more instead of hating only his policies. If you are actually paid for what you are doing I feel you should be sacked, but my feels don't count for much, please grow up |
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