EXCLUSIVE: officialEFCC proposes compensation for Abacha to end OPL 245 deadlock | TheCable
The development of the oil block, described as one of Africa’s richest, has been stalled since President Muhammadu Buhari came to office in 2015.
After a prolonged legal tussle following the revocation, Obasanjo agreed to an out-of-court settlement in 2006 to restore the block to Malabu and this was effected by President Goodluck Jonathan in 2011. But the Buhari government refused to convert the OPL to a mining licence for the Etan and Zabazaba fields being developed by ENI.
A team made up of officials from the ministry of petroleum resources, ministry of justice, Nigeria Upstream Petroleum Regulatory Commission and the EFCC was constituted to examine all the related issues and advise the anti-graft agency on the way forward.
According to reports, a man named “Mohammed Sani” originally had 50 percent in the company, with “Kweku Amafegha”, believed to be a pseudonym for Etete, owning 30 percent; and Wabi Hassan, the wife of Hassan Adamu, Nigeria’s then-ambassador to the US, was credited with owning 20 percent.Mohammed Abacha, who is EFCC’s key witness, told the court that he was the “Mohammed Sani” but admitted that he did not pay for the shares either in cash or by any other means.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EXCLUSIVE: Nigeria’s investment agency troubled as Buhari appointee suffers competence crisisThe commission that is responsible for driving desperately needed investments in Africa's largest economy is riddled with troubles as Ms Umar and the staff are at loggerheads.
Read more »
As Buhari Decongests Exclusive ListAs his tenure in office winds down, President Muhammadu Buhari and the current National Assembly seem to be in a hurry to do things they ought to have done a
Read more »
Open Letter To Bayo Onanuga, By Richard Akinnola | Sahara ReportersMy dear Bayo, I hope you are now happy and satisfied that the National Broadcasting Commission (NBC) has sanctioned Channels TV with a N5 million fine, following your petition over Datti Ahmed’s interview on Channels. Chief Gani Fawehinmi and Dr Olu Onagoruwa (both of blessed memories) were the best of friends for several years but that friendship was truncated when the latter decided to join the Abacha junta as the Attorney-General, churning out despicable decrees. Their relationship ended and Gani publicly upbraided his erstwhile friend.
Read more »
Anti-corruption fight must begin within | The Guardian Nigeria News - Nigeria and World NewsSir: Since Nigeria returned to democracy in 1999, an overarching question has been that of corruption. The foundations may have been laid in the 80s and 90s when the savage military dictatorships of Babangida and Abacha turned public funds into personal playthings.
Read more »
EXCLUSIVE: Nigerian Petroleum Company, NNPC Accused Of Stealing N20Billion Allegedly Paid To Ghost Consultants As Ogun Government Sues Its Arm Over Theft Of Multi-Billion-Naira Tax | Sahara ReportersThe Ogun state government has dragged the Nigerian National Petroleum Company (NNPC) Limited to court over unpaid tax liabilities running into N9 billion. In the relevant court documents obtained by SaharaReporters on Sunday, the Ogun State government accused NNPC of immense corruption.
Read more »
Medvedev beats Khachanov, reaches Miami Open finalDaniil Medvedev reached his fifth straight ATP Tour final with a 7-6 (7/5), 3-6, 6-3 win over fellow Russian Karen Khachanov at the Miami Open on Friday.
Read more »