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21 Dec 2016

Details On $1.1bn Malabu Oil Scam, How Ex-AGF Adoke Sent $800m to Ex-Minister

The immediate past Attorney General of the Federation, Mohammed Adoke (SAN), may soon be extradited from his new home in Holland as the EFCC has filed charges before a Federal High Court in Abuja for his alleged role in the $1.1bn Malabu oil scam.

The Malabu oil scam, which has been under investigation for over four years, relates to the billions of dollars paid by oil giants, Shell and ENI, into a Federal Government account, for OPL 245, considered the richest oil block in Africa.

The money was allegedly diverted by Adoke and paid into private accounts.The EFCC accused Adoke of illegally transferring over $800m to a former Minister of Petroleum, Dan Etete, and Etete’s oil firm, Malabu Oil & Gas Limited from a Federal Government account.

The commission also accused oil magnate, Alhaji Abubakar Aliyu, the Chairman of A. A. Group and Rocky Top Services, of receiving $336,456,906.78.
The charge reads, “That you, Mohammed Bello Adoke (SAN), on or about August 10, 2011 in Abuja, within the jurisdiction of this honourable court, aided Dauzia Loya Etete (aka Dan Etete) and Malabu Oil & Gas Limited to commit the offence of money laundering by facilitating the payment of an aggregate sum of $801,540,000 only to Dauzia Loya Etete (aka Dan Etete) and Malabu Oil & Gas through the Federal Government of Nigeria Escrow account with number 41451493, IBAN GB 30CHAS609242411493 with JP Morgan Chase Bank in London, which you reasonably ought to have known represented the proceeds of an unlawful activity to wit: fraud, and thereby committed an offence contrary to Section 18 (a) of the Money Laundering (Prohibition) Act 2011 as amended in 2012 and punishable under Section 15 (3) of the same Act.”
Punch learnt that Adoke, who has been in Holland since last year, would be arraigned in absentia.

The Senior Advocate of Nigeria had refused to honour all EFCC invitations, claiming that he was undertaking a degree in Holland.

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