Court orders return of controversial oil block to Nigeria

monjola sotubo

January 26, 2017 5:14 PM

The court order was secured by the Economic and Financial Crimes Commission (EFCC) on Thursday, January 26, 2017.

Nigeria’s former petroleum minister Diezani Alison-Madueke.

The Federal High Court in Abuja has ordered the return of OPL 245, the subject of the controversial $1.1 billion

The court order was secured by the Economic and Financial Crimes Commission (EFCC) on Thursday, January 26, 2017, according to Premium Times.

OPL 245, which is considered the largest oil block in Africa, was sold to oil giants, Shell and Eni in 2011 for about $1.1 billion.

The transaction has become the subject of investigations in Italy and Nigeria, among others, due to allegations of bribery and corruption.

The EFCC had earlier filed charges against former Attorney-General, Mohammed Adoke, former petroleum minister, Dan Etete and a controversial businessman, Abubakar Aliyu for their involvement in the deal.

A large chunk of the $1.1 billion was allegedly transferred into Malabu accounts controlled by Etete who then transferred large sums into accounts controlled by Abubakar Aliyu.

Italian prosecutors, in December 2016, alleged that Nigeria's former president Goodluck Jonathan and former petroleum minister, Diezani Alison-Madueke received bribes in connection with the deal.

ALSO READ: Former Petroleum Minister, Diezani Alison-Madueke returns $153m to FG

Jonathan has denied the claims and Alison-Madueke insists she didn’t steal any money from Nigeria.

monjola sotubo

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