Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home ยป Nigeria’s lawmakers commence fresh inquiry into Malabu oil deal

    Nigeria’s lawmakers commence fresh inquiry into Malabu oil deal

    October 7, 2016
    Share
    Facebook Twitter LinkedIn WhatsApp
    *Joint sitting of Nigeria's national assembly.
    *Joint sitting of Nigeria’s national assembly.

    07 October 2016, Abuja — Members of Nigeria’s House of Representatives panel investigating the controversial Malabu oil deal on Wednesday expressed strong reservations about the attitude of firms caught in the scandal.

    The House in January 2016 set up another ad-hoc committee to look into allegations of financial crimes in the lease of OPL 245 oil block in Nigerian waters.

    A former Minister of Petroleum, Dan Etete, awarded the lease of OPL 245 in April 1998 to Malabu Oil and Gas Ltd., a firm later traced to him.

    The Nigerian government later in 2009 brokered a fraudulent deal that led to the transfer of the oil bloc to Shell and Eni Agip with the oil majors paying about $1 billion to Malabu accounts through the federal government.

    Although Shell and Agip had long maintained innocence since the fraud was first uncovered by the administration of Olusegun Obasanjo, a leak of internal emails of the companies later indicated their involvement.

    It is not immediately clear why the House launched an all-new investigation into the affair since the same body had also found the oil firms culpable and ordered immediate cancellation of the contract following a thorough enquiry in 2014.

    All the House needed to do was ask that its previous resolutions be enforced by the new administration.

    Also, the scandal had been a subject of a worldwide investigation in five different countries including in Nigeria by the EFCC.

    Bello AdokeSeveral officials of the Goodluck Jonathan administration, including former Attorney-General of the Federation, Mohammed Adoke, and ex-Petroleum Minister Diezani Alison-Madueke, are being investigated for the scam.

    At the resumed hearing on Wednesday, Razak Atunwa, chairman of the committee, scolded officials of Shell Nigeria and NNPC for their alleged attempts at frustrating the investigations.

    Mr. Atunwa said he had powers to launch the investigation following repeated challenge by Shell questioning the essence of a new committee as well as its legal standing.

    After blasting Shell officials for seeking “unnecessary adjournment” of the inquiry, Mr. Atunwa, chairman of the House Committee on Justice, delivered a harsh criticism of NNPC, saying the failure of the state-run oil firm to appear before the committee was “contemptible.”

    “It smacks of a cover up that they’re running from contributing to this investigation,” Mr. Atunwa said.

    Mr. Atunwa adjourned the hearing to October 18 and warned of harsh consequences against further efforts aimed at stonewalling the proceeding.

    “This committee will not tolerate any implicit or explicit attempts by anyone, no matter how highly placed, to frustrate or forestall this highly crucial investigation.”

    NNPC spokesman, Garbadeen Mohammed, did not respond to enquiries.

    *Samuel Ogundipe – Premium Times

    Related News

    Russia plans to compensate for oil overproduction in August-September

    Russia’s fuel export revenue in June fell 14% from last year, IEA says

    US OKs exchange with Exxon Mobil to aid Gulf Coast supplies

    E-book
    Resilience Exhibition

    Latest News

    Russia’s Novatek says Q2 gas output up 2.8% y/y

    July 12, 2025

    LNG Canada’s start-up yet to lift gas prices amid supply glut

    July 12, 2025

    Russia plans to compensate for oil overproduction in August-September

    July 12, 2025

    Taiwan’s CPC Corp eyes US shale gas assets, sources say

    July 12, 2025

    China sets its first renewable standards for steel, cement and polysilicon

    July 12, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.