News
$1.1bn Malabu Oil Scam: EFCC Re-Arraigns Adoke, Six Others
The Economic and Financial Crimes Commission (EFCC), yesterday, re-arraigned the immediate past Attorney General of the Federation and Minister of Justice, Mohammed Adoke, SAN, before a High Court of the Federal Capital Territory sitting at Gwagwalada, on an amended 42-count corruption charge.
Adoke, who is facing trial over the alleged role he played in the “fraudulent” transfer of ownership of an oil bloc, OPL 245, regarded as one of the biggest in Africa, took fresh plea alongside two others, Aliyu Abubakar, Rasky Gbinigie and four companies – Malabu Oil and Gas Limited, Nigeria Agip Exploration Limited, Shell Nigeria Ultra Deep Limited, and Shell Nigeria Exploration and Production Company Limited.
The Defendants, who were initially docked before the court on January 23, 2020, pleaded not guilty to the amended charge that was read to them before trial Justice Abubakar Kutigi.
The Prosecution counsel, Mr Bala Sanga, said the charge was amended “to enlarge the scope of criminal liabilities” against the Defendants.
Meanwhile, Justice Kutigi adjourned the case to April 14 for the commencement of the hearing, even as he allowed the Defendants to go home on terms of the bail the court earlier granted to them.
The EFCC had in the charge marked FCT/CR/151/2020, alleged that Adoke, who served as AGF under the administration of former President Goodluck Jonathan, and the other defendants, were involved in fraud and bribery in the Malabu Oil bloc deal, to the tune of about $1.1billion.
The EFCC alleged that Adoke, who was arrested upon his return to the country from Dubai, United Arab Emirate, on December 19, 2019, received gratification to facilitate the alleged oil bloc fraud.
It alleged that it was the ex-AGF that mediated controversial agreements that ceded OPL 245 to two oil giants, Shell and Eni, who in turn paid about $1.1billion to accounts controlled by an ex-convict and former Petroleum Minister, Chief Dan Etete.
The OPL 245 was initially awarded to Malabu Oil & Gas Ltd in 1998 by the late military head of state, General Sani Abacha, in a process, the EFCC insisted was against all known government regulations.
The EFCC said its investigations revealed that Malabu Oil & Gas Ltd secured OPL 245 through a fraudulent scheme involving high scale bribery and corruption by top management of the company and some government officials.
According to the charge, the former AGF, in August, 2013, in Abuja, while serving as a minister knowingly received United States Dollars equivalent of N300million, which is reasonably suspected of having been unlawfully obtained, and thereby committed an offence punishable under Section 319A of the Penal Code, Cap. 532 Laws of the Federation of Nigeria 1990.
It was alleged that the defendants had some time in 2013, in Abuja, dishonestly used as genuine, the forged form CAC 7 and Board Resolution of Malabu Oil and Gas Limited, as well as the letter of resignation of one Mohammed Sani, and opened a Bank Account No. 2018288005 with First Bank of Nigeria Plc, with which they received the sum of $401,540,000.00.
The defendants were said to had by their action, committed an offence contrary to Section 366 of the Penal Code and punishable under the same section of the Penal Code.
According to EFCC, Adoke, had in September, 2013, knowingly and unlawfully obtained the sum of US dollars equivalent to N367,318,800, and thereby committed an offence punishable under Section 319A of the Penal Code, Cap.532 Laws of the Federation of Nigeria 1990.
Some of the counts in the charge read, “That you Mohammed Bello Adoke, being a public servant at the material time, the Attorney-General and Minister for Justice of the Government of Nigeria, sometime in 2013, in Abuja, within the jurisdiction of this Honourable Court, accepted for yourself without consideration, the sum of N300million to broker the negotiation and signing of the Block 245 Resolution Agreement with Shell Nigeria Ultra Deep Limited, Nigeria Agip Exploration Limited, Shell Nigeria Exploration and Production Company Limited, and thereby committed an offence under Section 119 of the Penal Code and punishable under the same section of the Penal Code.
“That you Rasky Gbinigie, Munamuna Seidougha (at large), Amaran Joseph (at large) and Dauzia Loya Etete (at large), sometime in 2013, in Abuja, within the jurisdiction of this Honourable Court, dishonestly used as genuine the forged form CAC 7 and Board Resolution of Malabu Oil and Gas Limited and the letter of resignation of one Mohammed Sani, which you then knew to be forged documents to open a Bank Account No. 2018288005 to receive the sum of $401,540,000.00, and you thereby committed an offence contrary to Section 366 of the Penal Code and punishable under the same section of the Penal Code”.
The 2025 annual general meeting (AGM) and conference of the Rivers/Bayelsa states chapter of the Manufacturers Association of Nigeria (MAN) has come to a close with a strong call for both states to drive the blue economy.
The communique just issued after the AGM pointed to what it called emerging prospects in fish processing, seaweed cultivation, ship repair, and marine technology.
The communique which also mentioned human capital gaps that must be filled through technical and vocational training that are aligned with modern industrial needs, said the blue economy represents a viable pathway for Nigeria’s industrialisation.
It said MAN and Arican Marine Environment Sustainability Initiative (AFMESI) have the capacity to unlock Nigeria’s blue economy sustainably and inclusively, but said the region required dedicated infrastructure upgrades, including roads, waterways, and power.
The communique was signed by Vincent Okuku (Chairman of Rivers/Bayelsa States Branch); Michael Nosa Agana (Branch Vice Chairman/Chairman AGM planning Committee); and Chibuzor Eze (Executive Secretary, Rivers/Bayelsa States Branch).
The resolutions said the future of the Niger Delta economy lies in diversification rather than dependence on extractive industries. “Technology and innovation, value addition and local processing, strategic infrastructure, and a skilled workforce are essential pillars for the future of manufacturing in the region.
“Governments in the region must intensify support for manufacturing activities. Various forms of collaboration across sectors should be actively encouraged.”
It specifically advised Bayelsa and Rivers States to fully develop and harness the blue economy as strategic gateways for sustainable growth; and called for cross-border partnerships with neighbouring states to enhance trade, security, and environmental management.”
The Rivers/Bayelsa States branch of MAN held its first (41st) AGM outside Port Harcourt for the first time, hosted by Bayelsa State Government at the Chief D.S.P. Alamieyeseigha Memorial Banquet Hall, with the theme: ‘Trade, Technology, and the Future of Manufacturing in the Niger Delta.’
In his welcome address, the chairman of the branch, Okuku, commended the Bayelsa State Government under the leadership of Gov Douye Diri for its efforts in industrial development, investment promotion, and strong partnership with the private sector.
He also acknowledged the Rivers State Government for its commitment to rehabilitating industrial clusters, improving access roads, and delivering key infrastructure.
He, however, expressed concern over persistent challenges such as high energy costs, unreliable electricity supply, weak transport systems, rising logistics expenses, multiple taxes and levies, inconsistent regulatory frameworks, and pressure from host communities, which continue to hinder manufacturing growth in both states.
The President of MAN, Francis Meshioye, noted that the Niger Delta, with its abundant resources and strategic location, holds vast potential for industrial expansion. He called for policy frameworks that promote local manufacturing, enhance trade, and attract investments to the region.
Goodwill messages were delivered by the Minister of the Federal Ministry of Regional Development, Abubakar Momoh, represented by Wasa Festus, Director of Community Development and Education. Another goodwill message was also presented by the Bayelsa State Commissioner for Trade, Industry and Investment, Ebieri Jones.
In his remarks, Gov Diri praised MAN for its contributions to Nigeria’s manufacturing sector, noting its resilience, innovation, and strategic role in national development. He stated that the conference theme aligns with his administration’s mantra of “Assured Prosperity.”
Gov Diri offered 24-hour service to manufacturers wishing to relocate to the state, and highlighted the State’s ongoing transformation through deliberate investment in infrastructure, security, and human capital aimed at positioning Bayelsa State as a hub for industrial growth, particularly in the blue economy, agriculture, and manufacturing.
He further noted that hosting the 41st AGM fulfilled a long-desired aspiration of the State following the successful 2024 MAN event in Port Harcourt, Rivers State. He officially declared the exhibition open.
The Nigerian Education Loan Fund has alerted the public to a fraudulent message circulating online, claiming that the NELFUND Student Loan Registration Portal is open.
The message directs applicants to a third-party link (http://gvly.xyz/Nelfund-Student-Loan, which NELFUND confirms is unauthorised and fraudulent.
In a post obtained from its X handle, yesterday, NELFUND urged students and the general public not to click on the link or provide any personal information, emphasising that the official loan registration portal is only accessible through the Fund’s verified channels.
The agency reminded applicants to exercise caution online and to report any suspicious links or communications claiming to be from NELFUND.
“Applicants are encouraged to always verify official announcements via NELFUND’s official website and social media channels,” NELFUND said.
This advisory comes as part of NELFUND’s ongoing efforts to safeguard students and ensure the integrity of the student loan application process.
-
Business5 days ago
VivaJets CEO Urges Unified Aviation Reforms Across Africa
-
Niger Delta4 days ago
Sexual Harassment: Court Sentences UNICAL Prof To 5yrs Imprisonment
-
Sports5 days ago
Neglect, Mismangement Responsible For 2026 W’Cup Mishap – Barr Green
-
Sports5 days ago
“Rangers No More Chasing NPFL Title Ambition”
-
Ict/Telecom5 days ago
NIGCOMSAT Expands Nigeria’s Digital Broadcast Subsector By 35%
-
Business5 days agoKeyamo Lists Aviation Investment Opportunities For Investors
-
Rivers4 days ago
New Year Festival: Dokubo Urges Citizens’ Reorientation In Cultural Values
-
Sports5 days ago
Corruption, Impunity Bane Of Nigerian Football – Dalung