According to the newtelegraph report, a former Minister of
Petroleum Resources, Dan Etete, and 12 others are faced with jail terms in
Italy over their alleged involvement in
the $1.1 billion Malabu oil scam in
Nigeria.
The prosecutors
filed the notice in a Milan court last week, one week after Etete was charged
by the Economic and Financial Crimes Commission (EFCC) in Abuja for his role in
the Oil Prospecting License (OPL) 245.
Dutch investigators
have also begun the probe of Shell’s alleged involve ment in the scam. Shell
and Eni have invested at least $1.8 billion in purchasing and developing the
oil bloc, which they own 50 per cent apiece.
The oil bloc
reportedly holds probable reserves of 9.23 billion barrels of oil, which if
proven, would represent the equivalent of a third of Shell’s proven reserves
and two-thirds of Eni’s. The administration of former President Goodluck
Jonathan had approved the transfer of $1.092 billion from Nigeria’s JP Morgan
account in London to Nigerian accounts controlled by Malabu, a company
controlled by Etete.
Based on Eni’s
involvement, Italian prosecutors filed a notice in a Milan court last week to
begin criminal charges and prosecution of Etete.
Another Nigerian
identified as Chukwuemeka Obi, is also among the 11 individuals to be charged
by the Italian authorities.
Shell and Eni are
also to be sued, making a total of 13 defendants in the criminal suit. EVP, a
company owned by Obi, had, together with its owner, laid claim to about $110
million of the $1.1 billion paid by Shell and Eni for the oil bloc considered
Nigeria’s richest oil bloc.
The money is
currently trapped in Switzerland where it has been frozen by a court. Obi had
sued Malabu for the $110 million in London, which he said was his entitlement
for helping to facilitate the deal between the oil majors and Malabu.
In July 2013, the
High Court of Justice, Queen’s Bench Division, presided by Lady Justice
Gloster, ruled in favour of Obi that he was entitled to “a fee of 8.5 per cent
of the total disposal consideration of $1.3 billion.”
The EFCC slammed a
seven-count charge of money laundering and fraud on Etete and others on
December 20 at the Federal High Court, Abuja.
The anti-graft
agency had earlier quizzed the Managing Director of Shell Nigeria Exploration
and Production Company Limited (SNEPCO), Mr. Bayo Ojulari, over the
controversial deal, specifically to determine whether the cash had been used
for the settlement of the dispute on the oil bloc or diverted elsewhere.
EFCC is specifically
seeking the whereabouts of $1.092 billion paid by SNEPCO and Nigeria Agip
Exploration Limited (NAE) into an escrow account.
Royal Dutch Shell
(RDSa.L) confirmed that Dutch investigators recently visited its headquarters
in The Hague, Netherlands, in relation to an investigation into the offshore
oil field.
“Representatives of
the Dutch Financial Intelligence and Investigation Service and the Dutch Public
Prosecutor recently visited Shell at its headquarters,” a spokesman said.
The visit, he added,
“was related to OPL 245, an offshore block in Nigeria that was the subject of a
series of long-standing disputes with the Federal Government of Nigeria.”
“Shell is
cooperating with the authorities and is looking into the allegations,” the
spokesman said. Etete had, last year, approached the British court and asked
that $85 million (N17 billion) be returned to his company, Malabu.
A British judge, on
December 15, 2015, however, refused to release the money to Malabu. In refusing
to release the money, Justice Edis of the Southwark Crown Court declared that
he was not sure the administration of President Jonathan acted in Nigeria’s interest
when it approved the transfer of the money to Malabu.
“I cannot simply
assume that the FGN, which was in power in 2011 and subsequently until 2015,
rigorously defended the public interest of the people of Nigeria in all
respects,” the judge ruled.
The $85 million was
seized at the request of Italian prosecutors, who are also investigating the
deal.
The money was the
last part of the OPL 245 largesse not yet distributed. While Etete argued that
the money be released to him, the Italian prosecutor argued that “their
investigation could lead to a potential forfeiture of the money down the road.”
Meanwhile, the House
of Representatives has said the prosecution of some persons and com-panies
linked to the controversial $1.1 billion award of Oil Prospecting Licence (OPL)
245 by the EFCC, as well as the planned prosecution of Etete by the Italian
government, will not deter it from completing the ongoing investigation into
the alleged scandal.
The House ad hoc
committee on Malabu oil deal, headed by Hon. Razak Atunwa (APC, Kwara), is
currently investigating the sale of the oil bloc.
The EFCC had, on
December 20, before a Federal High Court sitting in Abuja slammed a sevencount
charge of money laundering and fraud against Etete and others.
In a chat with New
Telegraph, a principal officer, who preferred anonymity, vowed that the House
would not abandon the investigation in spite of the court cases.
“The House is
empowered by the constitution, which is the ground norm to carry out any
investigation under the sun and we can invite any individual, no matter how
highly placed, to testify before any of our committees.
“So, the ad hoc
committee is going ahead with the investigation. No court has asked us (House)
to suspend the investigation and of course, none will even contemplate that.
When we resume in
January, the ad hoc committee will reopen its investigation and we must get to
the root of these allegations,” he stated.
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