Sunday, February 18, 2018

Tag "Malabu oil deal"

    EXCLUSIVE: ‘FG should have a stake in OPL 245’, ‘EFCC charges unsustainable’ — Malami writes Buhari

EXCLUSIVE: ‘FG should have a stake in OPL 245’, ‘EFCC charges unsustainable’ — Malami writes Buhari

Abubakar Malami, attorney-general of the federation (AGF), has advised President Muhammadu Buhari that Nigeria should have a stake in the prolific OPL 245.The oil block, considered to be the richest in Africa, was awarded to Malabu Oil & Gas Ltd in 1998 and after a series of controversy, Malabu sold 100% to Eni (Agip) and Shell.An estimate says OPL 245 [...]

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    FG sues JP Morgan for $875m over Malabu deal

FG sues JP Morgan for $875m over Malabu deal

The federal government has reportedly sued JP Morgan Chase for $875 million over funds paid for the contentious oil prospecting licence (OPL) 245.The government has accused JP Morgan of gross negligence in transferring part of the $1.3 billion payment made by Shell and Eni to secure the oilfield deal from Malabu Oil and Gas, a company is controlled by Dan Etete, [...]

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    We are disappointed, says Shell on ruling of Italian court

We are disappointed, says Shell on ruling of Italian court

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    FG: We’ve recovered $85m from Malabu deal

FG: We’ve recovered $85m from Malabu deal

The federal government has announced the recovery of $85 million from the United Kingdom as part of funds allegedly looted from the Malabu oil deal.Abubakar Malami, attorney-general of the federation, disclosed this on Thursday while speaking at the consultative meeting on assets recovery.He said despite the non-compliant nature of some countries, the government would not relent in its bid to recover [...]

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    Adoke files UN human rights complaint against FG, EFCC

Adoke files UN human rights complaint against FG, EFCC

Mohammed Adoke, a former attorney-general of the federation, has filed a human rights complaint against the federal government at the United Nations Human Rights Committee.He also named the Economic and Financial Crimes Commission (EFCC) in the complaint, accusing the agency "of unmitigated acts of persecution, intimidation, harassment, threat of deprivation right to life, unlawful interference with right to family life [...]

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Reps ask Jonathan to testify in probe of Malabu deal

The house of representatives ad hoc committee probing the award of oil prospecting licence (OPL) 245 to Malabu Oil and Gas has asked ex-President Goodluck Jonathan to testify in the ongoing investigations.The committee said in the interest of "thoroughness, natural justice and fair play", it was imperative that evidence should be taken from the former president.In a statement, the panel [...]

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    Adoke: I DID NOT broker Malabu oil deal

Adoke: I DID NOT broker Malabu oil deal

Mohammed Adoke, former attorney-general of the federation, says he did not broker the controversial OPL 245 deal between the federal government and Malabu Oil and Gas in 2011.In a statement by Victor Akhidenor, his media officer, Adoke also denied receiving bribe from anyone in respect to the transaction.Adoke had earlier claimed that he did no wrong concerning the deal and [...]

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Reps ‘considering inviting’ Jonathan over Malabu oil deal

The house of representatives ad-hoc committee investigating the contract of oil prospecting license (OPL) 245 has said it may invite former president, Goodluck Jonathan.Jonathan was alleged to have received up to $200m in kickbacks from the Malabu oil deal but the immediate past president has denied the allegations.Razak Atunwa, the chairman of the committee, in a statement on Wednesday, said [...]

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    Malabu oil deal: I could only have been bribed If I had a time machine, says Jonathan

Malabu oil deal: I could only have been bribed If I had a time machine, says Jonathan

Goodluck Jonathan, former president, has rubbished the report which suggested that he received $200 million kickbacks from the Malabu oil deal.Buzzfeed, an American news website, had reported that Jonathan benefitted from the sale of the controversial OPL 245 oil block.Reacting to the report, Jonathan said the Malabu oil deal was struck before his administration, noting that Buzzfeed's report can only hold [...]

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    Malabu oil deal: Eni denies involvement in ‘corrupt conduct’, clears CEO

Malabu oil deal: Eni denies involvement in ‘corrupt conduct’, clears CEO

ENI, also known as the Nigeria Agip Exploration Limited, has said the transactions leading up to the auctioning of $1,616,690,656.78 Malabu oil block were not fraudulent.The board of directors of the oil firm made this known in a statement on Wednesday.ENI said that an independent US law firm had conducted forensic investigations into the block and returned a "not guilty [...]

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    Court orders return of Malabu oil block, OPL 245, to FG

Court orders return of Malabu oil block, OPL 245, to FG

The federal high court, Abuja, has given the federal government control of the controversial OPL 245, pending investigation into the $1.1 billion Malabu oil deal.John Tsoho, a judge, gave the order, following an ex parte motion filed by the Economic and Financial Crimes Commission (EFCC).The OPL245 was said to have been acquired from the federal government by Malabu Oil and Gas [...]

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    Italian investigators: Jonathan, Diezani got $466m bribe in Malabu oil deal

Italian investigators: Jonathan, Diezani got $466m bribe in Malabu oil deal

Goodluck Jonathan, former Nigerian president, and Diezani Alison-Madueke, immediate past petroleum minister, were allegedly given bribes in the $1.3 billion deal involving ENI and Royal Dutch Shell.Jonathan, Alison-Madueke, and other government officials benefitted from a sum of $466m which was converted into naira, Italian prosecutors say.According to the News Agency of Nigeria, a report by AFP claims that Jonathan and Diezani [...]

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    I’ll make myself available for trial, says Adoke

I’ll make myself available for trial, says Adoke

Mohammed Adoke, former attorney-general of the federation (AGF), says he will defend himself against the allegations of the Economic and Financial Crimes Commission (EFCC) over his alleged role in the Malabu oil scam.Adoke is accused of receiving over $800 million from the federation account as his benefit from the deal.But in a statement, Adoke said the money laundering charge preferred [...]

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    EFCC files money laundering charge against Adoke, Etete over $1.1bn Malabu deal

EFCC files money laundering charge against Adoke, Etete over $1.1bn Malabu deal

The Economic and Financial Crimes Commission (EFCC) has filed charges against Mohammed Adoke, a former attorney-general of the federation, and Dan Etete, a businessman, for their alleged roles in Malabu $1.1 billion deal.The other defendants in the suit marked FHC/ABJ/CR/268/20 are; Aliyu Abubakar, Malabu Oil and Gas LTD, Rocky Top Resource LTD, Imperial Union LTD, Novel Properties & Dev. [...]

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    Dogara wants FG to rethink privatisation of public establishments

Dogara wants FG to rethink privatisation of public establishments

Yakubu Dogara, speaker of the house of representatives, says the federal government should have a rethink on the privatisation of public establishments.Dogara said this on Monday at the investigative public hearing on the urgent need to halt the plan to raise federal government secured bond of N309 billion to finance the shortfall in the Nigerian electricity market."Unfortunately, since the unbundling [...]

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Feb 16, 2018USDGBPEUR
INTERBANK360.45487.18428.32
LAGOS364497448
KANO364495430
PH363498435
ABUJA365497434
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