Swiss authorities block bank accounts linked to Malabu Oil scam

Dan Etete
Former Nigerian oil Minister Dan Etete. [Photo credit: THE REPUBLICAN NEWS]

The government of Switzerland has blocked several bank accounts in the country linked to the planned bribery trial of Eni and Shell executives in Milan, Italy, as it relates to the infamous Malabu oil scam.

On Monday, the office of the Swiss Attorney-General confirmed that at the request of public prosecutors from Milan, it has confiscated, assets and shared information with Italian authorities.

The trial of the executives, including former Eni’s Claudio Descalzi, and his predecessor, Paolo Scaroni, was originally slated for March but was moved to May after it was transferred to Milan.

Nigerian and Italian investigators accuse officials of both Eni and Shell of shady financial deals to secure a licence for the lucrative OPL 245.

Three separate bank accounts in Lugano, Basel and Geneva were blocked, according to media reports confirmed by prosecutors but they declined to reveal the value fo the seized assets.

In all, apart from Messrs Descalzi and Scaroni, 11 other people including two former top Shell managers, former Nigerian oil minister, Dan Etete and a series of middlemen and advisers are being probed.

Eni and Shell were also listed as corporate defendants in the case. Both oil companies have denied wrongdoing and expressed confidence that the trial would exonerate both the companies and individuals.

Apart from Mr Etete, a former Attorney-General, Bello Adoke, are amongst several Nigerians indicted in the deal, which was approved by ex-President Goodluck Jonathan, who also denies wrongdoing.


NEVER MISS A THING AGAIN! Subscribe to our newsletter

* indicates required

DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD: To place a text-based advert here. Call Willie - +2347088095401


All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.