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Friday, 26 July 2013

$1bn Malabu oil deal: Senate mandates committees to investigate bribery allegation

The Senate, on Thursday, mandated its committees on Finance and Petroleum (Upstream) to wade into the contentious $1.092 billion Malabu oil deal.

Senate President David Mark, who brought up the issue before his colleagues during the plenary, said there was need for the upper legislative chamber to carry out a thorough investigation with a view to unravel the circumstances surrounding the controversies in the issue.

The House of Representatives had, last week, summoned the Attorney-General of the Federation and Minister of Justice, Mohammed Adoke, over a letter purportedly written to a foreign organisation, Global Witness, saying that the House had cleared him of any wrong doing in the deal.

Royal Dutch oil giant, Shell and Italy’s oil major, ENI, are under investigation by the British Government for alleged money laundering over the Malabu oil deal.

The two oil firms with huge investments in Nigeria were suspected to be connected to a money-laundering allegation relating to the OPL 245 they bought from Nigeria for $1.3 billion.

Source: tribune

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