ADVERTISEMENT
  • The Membership Club
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Tuesday, January 19, 2021
Premium Times Nigeria
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
MALABU: Shell-and-Eni

Shell and Eni photo used to illustrate the story. [Photo credit: THISDAYLIVE]

MALABU: Eni, Shell knew of corrupt payments to Nigerian officials — Judge

byOladeinde Olawoyin
December 17, 2018
2 min read
ADVERTISEMENT

An Italian judge on Monday affirmed that oil giants, Eni and Royal Dutch Shell, knew that their 2011 purchase of the controversial Malabu oilfield would result in corrupt payments to Nigerian officials.

The judge, Giusy Barbara, also berated Nigerian politicians and officials involved in the controversial deal.

Reuters reported on Monday that the Milan judge made the comment in handing down her reasons for the September conviction of Nigerian Emeka Obi and Italian Gianluca Di Nardo, both middlemen in the OPL 245 deal, for corruption.

Messrs Obi and Di Nardo stood as middlemen in connecting the parties and the transfer of the funds through international bank accounts.

PREMIUM TIMES reported how they were found guilty and sentenced four years each.

The Malabu deal, struck in 2011 under former President Goodluck Jonathan, saw the Nigerian government act as a negotiator in the sale of OPL 245 oil block in offshore Nigerian waters.

Two international oil and gas giants, Royal Dutch Shell and Italian Agip-Eni, paid out about $1.1 billion to Dan Etete, a former Nigerian petroleum minister, who had previously been convicted of money laundering in France.

The payout would later become a subject of a cross-border investigation spanning over six countries.

On Monday, the Italian judge said both oil giants were aware of the corrupt influence of the controversial payments.

RelatedNews

Ogun govt bans fuel tankers, articulated vehicles from plying flyovers

INEC announces date for Anambra governorship election

COVID-19: Lagos govt begins talks with vaccine manufacturers – Sanwo-Olu

NSE: Nigeria market extends slide amid 29% drop in trade volume

“The management of oil companies Eni and Shell … were fully aware of the fact that part of the $1.092 billion paid would have been used to compensate Nigerian public officials who had a role in this matter and who were circling their prey like hungry sharks,” the judge said in her reasoning.

Ms Barbara also said part of the money was given to some Eni managers.

Both oil giants were yet to react to the new development Monday afternoon.

Dangote adbanner 728x90_2 (1)

Earlier in December, details emerged that Russia asked Italy to drop charges against a former ambassador caught up in the long-running Nigerian corruption case. Legal documents showed that authorities in Russia plan to ensure charges against Ednan Agaev, a former ambassador, were dropped.

In November, a report by Global Witness said the Malabu deal reduced Nigeria’s expected revenue by nearly $6 billion.

The group, in its report titled ‘Take the Future’, said the projected lost revenue could fund Nigeria’s combined annual federal health and education budgets twice over.

The report drew on an analysis from leading experts at Resources for Development Consulting commissioned by Global Witness and NGOs HEDA, RE: Common and The Corner House.

The analysis of the contract terms estimated these changes could reduce the Nigerian government’s projected revenue from the oil fields by $5.86 billion over the lifetime of the project when compared to the terms that had applied before the 2011 deal and assuming an oil price of $70 per barrel.

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401...


JOIN THE CONVERSATION

  • Disqus (3)
premiumtimes



PT Mag Campaign AD

Previous Post

NASS workers begin strike two days before Buhari presents budget

Next Post

Fusion of dance, drama as ‘Made in Nigeria’ poetry event holds

Oladeinde Olawoyin

Oladeinde Olawoyin

Oladeinde Olawoyin reports Business & Economy, Development and Lagos Metro at PREMIUM TIMES. A First Class graduate of Mass Communication from the University of Ilorin, Ilorin, he was nominated in the journalism category of The Future Awards Africa in 2017. Aside maintaining a column titled ‘SATURDAY SATIRE’, he also writes art and culture pieces on weekends. Twitter: @Ola_deinde

More News

File Photo: Fuel Tanker explosion

Ogun govt bans fuel tankers, articulated vehicles from plying flyovers

January 19, 2021
The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria November 9, 2016. REUTERS/Afolabi Sotunde

NSE: Nigeria market extends slide amid 29% drop in trade volume

January 19, 2021
NIN Registration: A crowd gathered outside NIMC office, Alausa, Lagos State. [PHOTO: TW @FS_Yusuf_]

NIN Registration: Nigeria subscribers submit 47.8m ID numbers ahead of deadline

January 19, 2021
Federal Internal Revenue Service (FIRS)

Nigeria’s FIRS raked in N4.9trn in tax revenue 2020 – Official

January 19, 2021
Cooking gas cylinders

Nigeria’s LPG consumption hits 1m metric tonnes — PPPRA

January 19, 2021
OAU: Obafemi Awolowo University (OAU)

OAU announces date for continuation of 2019/2020 academic session

January 19, 2021
Next Post
Made in Nigeria' poetry event in Lagos on Saturday night.

Fusion of dance, drama as 'Made in Nigeria' poetry event holds

UEFA Champions League Trophy

Champions League Draw: Liverpool to face Bayern, Man Utd get PSG

Discussion about this post

Search

#EndSARS: Latest Updates




Polaris Bank


JAIZ Ad


NITDA Ad




Advertisement






netherland biz school Advert

Zenith Advert

Heritage Advert
ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps Address Nationwide
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • Dubawa
    • Dubawa NG
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.