Abuja — Nigeria has issued warrants for the arrest of two former ministers over the sale of offshore oilfield OPL…
Browsing: Malabu Oil deal
Mkpoikana Udoma 16 May 2018, Sweetcrude, Port Harcourt — The Ijaw Youths Council, IYC, has admonished the Federal Government to…
In a judgment on Friday, Justice Binta Nyako held that the ex-minister acted on the lawful directives of Jonathan in the exercise of his executive powers as provided in the Constitution.
“This trial should be a wake-up call to the oil industry. Some of the most senior executives of two of the biggest companies in the world could face prison sentences for a deal that was struck under their watch.”
The companies are accused of corruption in the 2011 purchase of OPL 245, an offshore oil block estimated to hold 9 billion barrels of crude, for $1.3 billion.
Malami reiterated the resolve of the government to recover more funds, having signed several treaties to facilitate the return of stolen assets.
NEITI says its proposed law on Beneficial Ownership disclosure will increase transparency and accountability in the extractive industries. The agency is pushing for the enactment of a specific law that would compel companies operating in the extractive industries to abide by strict Beneficial Ownership disclosure.
Alison-Madueke, who is reportedly under treatment for cancer in the United Kingdom, has been named in several corruption and embezzlement cases in Nigeria.
“Yes, we invited the former President already. The committee wrote him a letter, but he has not responded. He has not sent in any replies. We are still waiting for him,” he said.
“It is therefore sad and distressing that in spite of all that I tried to do in the best interest of our nation, I continue to be faced with constant demonisation, unproven accusations and deeply personal insults.”
