Infographics on How Ex-Oil Minister Dan Etete Siphoned $1 billion Nigeria Oil Money

OPL245 – Nigerian oilfield containing an estimated 9 billion barrels of crude
1998 – Dan Etete awards licence to Malabu Oil & Gas for $20 million (firm has no assets and no employees)
2000 – Shell and Malabu battle in court over ownership of the field
2011 – Eventually the field gets sold to Eni and Shell by the Nigerian government
ENI and Shell pay Nigerian government but $1.09bn gets sent to Malabu
Nigeria only retains $208m – the signature bonus paid by Shell
Remaining $1bn-plus gets channeled to bank accounts in London, Switzerland and offshore locations
Missing $1bn is equivalent to 80% of Nigeria’s health budget
Multiple case files have been opened but are often incomplete or missing
Offshore accounts allegedly are controlled by Malabu, Etete and five other Nigerian companies
Investigations into the OPL245 affair continue in the UK, Italy and Nigeria
$85 million frozen in a NatWest bank account in London belonging to Etete is meandering through the UK courts

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Posted: at 27-09-2016 02:05 PM (7 years ago) | Addicted Hero

We are tired of all these rubbish where is all the money that hv been returned

Posted: at 27-09-2016 02:35 PM (7 years ago) | Gistmaniac

And you guys says make dem no sell all these assets. this is how some useless being go dey benefit from what belong to the masses. Nigeria will know no peace until the son of nobody become somebody without knowing anybody... Alabere

Posted: at 27-09-2016 03:04 PM (7 years ago) | Upcoming

I am no longer interested in all these billions  upon billions,na una put d country for recession, I hope it doesn't fall to depression..

Posted: at 27-09-2016 03:37 PM (7 years ago) | Gistmaniac

 

Posted: at 27-09-2016 03:55 PM (7 years ago) | Hero

NO BE SMALL TINOOOOOOOOOOOO

Posted: at 27-09-2016 07:20 PM (7 years ago) | Gistmaniac

I logged in, I read & I commented.... After una go dey blame Buhari 4 Recession.

Posted: at 27-09-2016 11:10 PM (7 years ago) | Gistmaniac

You have NEVER seen anything good in Buhari's Government, and unfortunately, it beclouds your sense of reasoning.
For your Information, Buhari was Petroleum Trust Fund Chairman charged with re-investing hand-outs from proceeds of the crude oil sales He was NOT Petroleum Minister nor Head of State, hence, he cannot probe or prosecute or jail, which was Gen. Sani Abacha job, and we all know about the Abacha's loot.

Posted: at 28-09-2016 03:49 AM (7 years ago) | Gistmaniac

see issue of corruption.

Posted: at 28-09-2016 12:23 PM (7 years ago) | Hero