BREAKING: Nigeria wins back Africa’s largest oil block in Malabu $1.1 billion scandal

The Nigerian government has won back ownership of OPL 245 which is considered the largest oil block in Africa with over 9 billion barrels of crude.

Premium Times reports that the Economic and Financial Crimes Commission (EFCC) secured a court order mandating the return of the oil block to the federal government.

The order was granted by Justice John Tsoho of the Federal High Court on Thursday, January 26 morning, pending “the conclusion of investigations…”, Premium Times reports.

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The OPL 245 is a subject of investigations in at least five different countries across the world after two oil giants Shell and Eni paid about $1.1 billion into a Nigerian government account in London to take control of the oil block in 2011.

Around 70 per cent of the funds paid were then controversially transferred into Malabu accounts which were controlled by a former petroleum minister Dan Etete.

Premium Times reports that Etete allegedly transferred over half of what he got into accounts of shady companies allegedly controlled by Aliyu Abubakar, who is believed to be a front for several top officials of the Goodluck Jonathan.

Legit.ng recalls that former president Goodluck Jonathan recently stated his side to the allegation of receiving gratification to approve the Malabu Oil transaction while he was in office.

Jonathan’s reaction came through his spokesperson, Ikechukwu Eze, about 24 hours after news hit Nigeria that he had been indicted in Italy.

Source: Legit.ng