The entire Malabu OPL245 deal is now subject to a corruption trial in Italy, where Mr Etete is an accused, together with alleged middlemen, Eni and Shell...
Former Nigerian oil Minister Dan Etete, involved in the Malabu Scandal. [Photo credit: THE REPUBLICAN NEWS]Nigeria has tracked down and grounded the luxury private jet purchased by its former oil minister, Dan Etete, with some of the alleged proceeds of the notorious $1.3 billion Malabu OPL245 oil deal.
Mr Johnson said that the order was served on the jet’s owner, a company called Tibit Ltd, which has until Tuesday next week to file court papers opposing the seizure.Tibit Ltd is an anonymously owned company incorporated in the British Virgin Islands . She said she had been hired as a contractor to decorate the plane’s interior, but that she had had nothing to do with Tibit’s affairs since 2013.
After Abacha’s sudden death, Mr Etete retained the rights as a private citizen until he offloaded them to oil giants Shell and Eni in 2011, who paid a combined $1.3 billion to the Nigerian government. The plane has a current market value of approximately $20m, according to dealers. It is registered with the Isle of Man’s aircraft registry.According to lawyer Bode Johnson, who was appointed by the Nigerian government in 2016 to recover assets from the Malabu OPL245 deal, the jet had been grounded in Dubai for the past four years, where it had been closely monitored.
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