House sets to investigate N155billion oil block scandal involving government officials, shell

The House of Representatives on Thursday resolved not to let the N155billion naira oil block scandal involving Nigerian government officials, two multinational oil giants (Shell and Agip), and a Nigerian company (Malabu Oil and Gas) be swept under the carpet as legislators decided to investigate the shady deal.

The decision by the legislators followed a motion brought under “matters of urgent national importance,” by Robinson Uwak who represents Akwa Ibom state in the lower house.

“There was a purported sale of OPL 245 to Shell/Agip consortium for the sum of $1,092,000,000 and immediate transfer of the entire amount to Malabu Oil and Gas Limited, an indigenous oil company, as compensation for its alleged prior interest in the oil bloc,” Mr. Uwak said.

The legislator also lamented the pattern of distribution of the proceeds of the sale saying “the ethical and legal issues which surround the transaction have further been compounded by the pattern of distribution of the proceeds of this sale.”

Despite the House claiming it could not debate the motion because there were cases in court on the matter, the legislators decided to set up an ad-hoc committee to investigate the roles played by all parties in the scandal.

Members of the committee who have not  been named will be given three weeks to complete their task.

PREMIUM TIMES had, in an ongoing series, extensively reported how Shell and Agip secretly paid $1.1bn into a Federal Government account for OPL 245 and how the money was subsequently transferred by the government into Malabu accounts. 

Malabu is largely owned by former Petroleum Minister, Dan Etete, who was convicted for money laundering in France.

We also exposed how Malabu dubiously transferred the money into accounts of companies believed to be fronts for public officials including about half of the total sum ($523mn) into accounts of companies owned by Abubakar Aliyu, a man with links to President Jonathan through former Bayelsa Governor, Diepreiye Alamieyeisegha.

Senate keeps mum

While the House sees a scandal in the transaction, the Senate has said it would not investigate the matter unless there is a formal petition before it.

Its spokesman, Eyinnaya Abaribe, in a telephone interview told PREMIUM TIMES that newspaper reports were not enough bases for the upper chamber to investigate such a monumental fraud.

 “Do we just wake up and start to do our work based on reports in the newspapers?”Mr. Abaribe queried. 


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  • KenMani

    The born to rule Northern Muslim Hausa-Fulani at work. I had thought they will hold a special session last Sunday to investigate the N155Billion that was generated from their oil wells in Kano and Sokoto. The reason for corruption in Nigeria resides with the fact that the Northern Muslim Hausa-Fulani are completely unproductive and contribute nothing to the national cake. Yet they live a luxurious lifestyle and maintain extremely high taste that is not supported by any form of positive productivity known to human kind. Regrettably, they are the same people now using their malicious propaganda machine coordinated by IBB, Atiku and El Rufai to unjustly blame Jonathan for the corruption that favours them alone and without which they cannot survive. They have nothing positive to contribute to the national cake. They live and breathe corruption without which they die.

    • Babatruth

      KenMani, ignorance is a decease as bad a cancer, please stop your tribal ethnic bias, go and look at Dantata and Dangote look at their industries at least they are employing both Nigerians and foreigners. and you say the north has nothing to contribute!!!! Corruption is endemic in Nigeria and not one tribe or peoples are solely complicit. Those you mentioned are corrupt but so are most of the leaders in the South and West, ohh where does Ibory come from? Please stop tribal and ethnic hate mongering.. it solves nothing just distracts from the real problems.

  • karambana

    kenmani, it is a pitty,people like you still exsist in this country.Malibu is a company owned by the northerners,Tha 1.1 billion us dollars [sorry,northern dollars] is approved by the northerners,4 payment to the northern company.the amount is shared to the northerners namely IBB,Atiku,El Rufai equally.Yet the perfect & Industrious south is looking on helplessly bacouse of fear of the northern leaders. Let the southern Saint President initiate an investigation or set up a judicial enquiry to arrest,prosecute & jail all the northern thieves.Imagine what 1.1 BILLION US $ can do to either our Universities,Hospitals,PHCN or even our death traps called Roads.