Nigeria asks for $1.1 billion advance from Eni, Shell in graft case
Emilio Parodi
REUTERS/AFOLABI SOTUNDE

MILAN (Reuters) - Nigeria asked a Milan court on Wednesday to order Eni and Royal Dutch Shell to pay $1.092 billion as an immediate advance payment for damages it is claiming in one of the oil industry's biggest-ever corruption trials.

At a hearing into alleged corruption linked to Eni and Shell's 2011 acquisition of the OPL 245 field, Lucio Lucia, lawyer for the Nigerian government, called for a guilty verdict and an advance payment, ahead of any broader damages package set by a court at a later date.

Lucia did not specify how much Nigeria was seeking in damages overall but said the disputed deal had deprived Abuja of "profit oil", adding "these are massive amounts".

The lawyer said that calculated under two different scenarios, the profits that had been lost amounted to $4.5 billion and $5.9 billion respectively.

The long-running bribery case revolves around the purchase of the OPL 245 offshore field, some 150 km off the Niger Delta, for about $1.3 billion from Malabu, a company owned by former Nigerian oil minister Dan Etete.

Prosecutors allege that about $1.1 billion of that was siphoned off to politicians and middlemen, half of it to Etete himself.

Shell says the 2011 agreement was a settlement of long-standing litigation, following the previous allocation of the block by the Nigerian government to Shell and Malabu.

Etete, Eni, Shell and the managers accused in the Milan court case, including Eni CEO Claudio Descalzi, have all denied any wrongdoing.

Eni said in a statement on Wednesday that the purchase price for OPL 245 was "congruous and reasonable" considering the value of the field and investment needed to bring it into production.

In July, prosecutors in the case asked for Eni and Shell to be fined and some of their present and former executives, including Eni's Descalzi, to be jailed.

They also requested the confiscation of a total of $1.092 billion from all the defendants in the case, the equivalent of the bribes alleged to have been paid.

The next hearing in the trial is scheduled for Sept. 21, when the defence is due to present its case.

(Reporting by Emilio Parodi; Writing by Stephen Jewkes; Editing by Jason Neely and Alexander Smith)

https://mobile.reuters.com/article/amp/idUSKBN2601JK?__twitter_impression=true

NwaNimo1:
For buhari to squander and loot?

Always read to comprehend

They should pay up.

This case is one of the watershed corruption case involving many corrupt people in the PDP government who are yet to face judgement.

Buhari has become like that junkie uncle who is always desperately looking for money to squander on drugs

oga ooo

Damnnnnn niggarrr
Isoright

Lemme digest it well

Even If they pay $100trillion dollars as fine, it won't still have any impact on the lives of Nigerians, the politicians already have a standby formula for sharing the national cake among themselves

While our leaders are busy mortgaging the future of the generation to come, this hen died trying to save hers.

PDP finished this country life. they put Nigeria in dis present mess. Grand corruption everywhere

Make dem divide this country and give us our own share..this that a hard ask?

"Dan Etete former oil minister owns half of the money and the rest going to politicians". What this people have been stealing can make this county a wealthy nation.

Money that won't make a difference

Nigeria needs money desperately right now. The bridge is falling.

NA POVERTY DON SAVAGE WE COUNTRY? LOCAL MAN IS SPEECHLESS!

I hope they give mi my share of the money sha

. . .

Eriggs:
PDP finished this country life. they put Nigeria in dis present mess. Grand corruption everywhere

. What's happening in APC now is called what? Great grand corruption.

One4me:

Sometimes l just wonder.
Atiku, Dezziani, Omokere, former AGF Adoke, Former Babachir "Grasscutter" Lawal, that Northerner, Pension Looter (Maina), etc.
?

fixed

Racoon:
This case is one of the watershed corruption case involving many corrupt people in the PDP government who are yet to face judgement.

Even though you are not far from the truth I just want to let you know that corruption is not party rooted is an individual thing, the system need total over-hauling.

saintade01:


Always read to comprehend

He is absolutely right...the money is gonna b looted

Ok

Some is fundamentally flawed in the whole setting of Nigeria and Nigerians.

Until that is fixed, nothing will change.

The involvement of goverment in certain business affairs is a problem, everyone sees that as an avenue to corruption.

Its goverment money, do it anyhow, nothing will happen.



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Did Abacha assign the OML to Atete?

saintade01:


Always read to comprehend

You need the advice more

isokay

One4me:
But it is strange that Westerners are prosecuting their own citizens for Bribes and Corruption that was perpetrated with Nigerian Govt Officials yet Nigerian Govt is allowing the Nigerian Culprits to walk about freely!

Sometimes l just wonder.
Atiku, Dezziani, Omokere, former AGF Adoke, Former Babachir "Grasscutter" Lawal, that Northerner, Pension Looter (cant remember his name now), etc.

All these Criminal Looters are walking free and we say we want to be paid $1Billion by the White thieves?

Stop being foolish!

Apart from Atiku, which no allegations exist against, everyone in that list has been charged and is being prosecuted.

Think, research and show you have a functioning brain when you make comments in public.