From Left: HRH Bokumor Orukari of Sagbagrea, Bayelsa Stat; HM Felix Otuarikpo of Upata kingdom and HRM, Disreal Bobmanuel of Abonnema of Rivers State at the occasion

Malabu Scandal: Nigerian Government Recovers $85m

Stolen assets of Nigeria amounting to $85m has been recovered from the United Kingdom by the administration of President Muhammadu Buhari.
This revelation was made by Nigeria’s Minister of Justice Abubakar Malami, adding that the money, which is equivalent of £64m are proceeds from the alleged Malabu bribery scandal involving Shell and ENI.
Meanwhile, investigators in Nigeria and in Italy found that over $1bn that was paid to the federal government in 2006 by the multinational companies were diverted.
BBC reports that, earlier this year, Italian prosecutors took up the case against ENI and Shell for their alleged part in the scandal, issuing charges against senior Shell executives ten days ago.
“In emails seen by the BBC in April, top officials at Shell acknowledge that the money they paid to the Nigerian government would end up with Dan Etete.
“And that it might be used to pay bribes. Shell claim the transaction was legal and that Mr Etete was a legitimate negotiator”, the international media organisation reported.

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