Monday, 12 March 2018

UK Pays Nigeria $70m From Malabu Oil Controversial Deal

 The Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), has said the United Kingdom has paid Nigeria the sum of $70m recovered from the Malabu oil controversial deal. The $70m leaves an outstanding of $15m of the $85m which the AGF announced in October last year as the amount being expected to be recovered from the UK in respect of the deal. Regarded as one of the most complicated and controversial oil deals in the world, the Malabu oil scandal surrounds the sale of Nigeria’s highly-lucrative Oil Processing Licence 245.

But Malami said Nigeria was “making issues” out the $15m shortfall. Specifically, our correspondent asked the minister if it was true that President Muhammadu Buhari had overruled his reported advice that the trial of the immediate past AGF, Mr. Adoke Malami (SAN); a former Petroleum Resources Minister, Dan Etete; and other suspects be stopped due to lack of evidence. His letter to the President last September reportedly requested that the trial of Adoke and other suspects be stopped and that instead of the trial, the Federal Government should enter into negotiations with various parties in the OPL 245, so that the exploration of the oil field could commence.

Malami said he had not asked the EFCC to stop the trial of the suspects but to carry out further investigations, describing the report that he advised that the President should order a stop of the trial as mischievous.

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