Nigeria seizes $1.2 billion oil bloc in Shell, Eni scandal
January 27, 2017
JOHANNESBURG – A court document shows Nigeria is seizing back one of Africa’s richest oil blocs and could prosecute petroleum giants Shell and Eni in a corruption scandal that has drawn investigators from the United States, Italy, France, Switzerland and Holland.
Nigeria’s Economic and Financial Crimes Commission says Friday that a Federal High Court has ceded control of Oil Prospecting License 245 to the federal government while it investigates and prosecutes suspects in the “Malabu Oil scam.”
The commission’s petition says Dutch-British Shell and Italian Agip — now Eni — bought the bloc knowing the transaction was “fraught with fraud” and that the $1.2 billion payment to former petroleum minister Dan Etete and his cronies was a bribe. The state oil company got only $210 million from the deal.
Nkemnji Global Tech
Pan African Visions | October 27, 2020 5:09 pm
Pan African Visions | October 27, 2020 1:09 am
Pan African Visions | October 27, 2020 12:02 am
Pan African Visions | October 26, 2020 11:02 pm
October 27, 2020 5:21 pm
October 27, 2020 5:09 pm
Announcing the operationalisation of a new business model to scale up renewable energy in Zambia and subsequently other countries in Southern Africa
October 27, 2020 4:17 pm
October 27, 2020 2:07 pm
October 27, 2020 2:03 pm