Etete, Shell, Eni, Others To Face Trial Over $1.1bn Malabu Scandal

By Ikenga Chronicles February 10, 2017

Etete, Shell, Eni, Others To Face Trial Over $1.1bn Malabu Scandal

Former Italian Minister of Petroleum Resources, Chief Dan Etete, Shell, Eni and several senior executives of Eni are set to face trial ‎over alleged international corruption offences over the 2011 purchase of Nigerian OPL 245 oil block.

The Italian prosecutors who called for their trial also fingered current CEO, Claudio Descalzi, in the corruption deal and seek separate deals against four senior Shell executives, including the current Shell Foundation Chairman
Malcolm Brinded, who at the time of deal was head of Global Exploration and Production.

It was reported that Shell and Eni paid $1.1 billion to Malabu Oil and Gas, a front company secretly owned by Mr. Etete in 2011.

Prosecutors also alleged that over $500 million went to “fronts for former President Goodluck Jonathan of Nigeria” in the deal which deprived Nigeria of a sum worth 80 per cent of its 2015 healthcare budget.

This allegation has been dismissed by former President Jonathan who stated that he had never used fronts to “seek favour or collect any gratification on his behalf.”

However, Simon Taylor of Global Witness stated that ‎ “This request demonstrates that major international companies
and their senior executives are not above the law. Shell and Eni look now to be finally facing a trial over these matters, and others need to wake up to the new reality where corrupt deals and the actions that lead to them cannot stay hidden behind closed doors.

‘’Global Witness has campaigned for decades to carve out transparency in this secretive sector; this case proves that the age of accountability is dawning.”

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