Everything You Need to Know MALABU OIL SCANDAL.

On Monday, April 10, 2017, the Chairman House Committee on Justice and the leader of the Adhoc committee investigating the $1.3 billion MALABU oil deal, Rasaq Atunwa disclosed that the House would invite President GEJ

to testify to his role in the award of Oil Prospecting License, OPL245 to MALABU Oil and Gas Ltd. According to Rasak, recent developments from the committee's investigation demand that President @GEJonathan testify.

A Russian middlemen who brokered the deal, Ednan Agaev told Italian prosecutors that @GEJ may have received a $200 million bribe from former Petroleum minister, Dan Etete.

However, President Jonathan described reports linking him to oil scandal as the work of his detractors who are threatened by his UNSEEN rising international profile. The former President has become the highest profile individual involved in the messy SCANDAL.

MALABU Oil&Gas Ltd, is co-owned by Fmr Petroleum Minister under Abacha, Dan Etete. It was awarded d controversial OPL 245, in 1998 by d Abacha regime. MALABU appointed Shell as its technical adviser. After d death of Abacha, legal wrangling BTW MALABU&Shell started.

In 2011 Fmr President Obasanjo revoked the license and gave it to SHELL. According to the letter written by Fmr AGF and MJ, Mohammed Adoke Bello, this development forced Malabu Oil and Gas Ltd to take the matter to the House of Reps committee on Petroleum.

The committee frown at the revocation as it found no basis for such and subsequently ordered that the license be returned to MALABU Oil and Gas Ltd.

MALABU instituted a suit No. FHC/ABJ/CS/420/2003, before the Federal High Court, Abuja to enforce its claim to OPL 245. Although the suit was struck out by the FHC. Malabu lodged Appeal No. CA/A/99M/2006 before the Court Appeal, Abuja, Division.

During the Pendency of the Appeal, an amicable settlement was entered into btw MALABU&the FG and in compliance with d terms of settlement executed by the parties on Nov 30, 2006, OPL 245 was fully restored to MALABU in consideration for his withdrawal of the Appeal

Adoke who denied brokering the deal,stated that SHELL was not happy with the development&it took the matter before the International Center for Settlement of the Investment Disputes in Washington DC, demanding $2 billion from the Nigerian Govt for breach of contract

It also commenced the suit against the govt before the FHC. An agreement was eventually reached for Shell to pay $1.2 bn to d FG who will in turn settle MALABU to relinquish it's right to d disputed tract. Adoke stated that he implemented d terms as directed by GEJ

EFCC, after investigations, considered the deal which was brokered by the FG led by Adoke BTW MALABU and Shell as fraudulent and breach of Nigeria's Money Laundering laws.

EFCC is also seeking an arrest warrant for Adoke whom it accused of diverting d sum of $800m paid into the FG escrow account at JP Morgan Bank to MALABU. The EFCC arraigned d owner of MALABU, Dan Etete&other accomplice on charges of receiving monies&transferring to other accounts
EFCC also sought&obtain an order from FHC in Abuja ordering the interim forfeiture of the lucrative oil block OPL 245, to the FG pending investigation and prosecution of suspects in the &1.1 billion MALABU oil scam.

According to reports from Buzzfeed, after emails btw employees of SHELL&the February 2016 call recording of the oil company's Chief Executive, Ben Van Beurden, were made public, Shell eventually admitted that it knew some of the monies that they paid to the govt ...

would be used to settle MALABU, Dan Etete and Nigerian government officials as BRIBES, and it still went ahead with the deal.

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