OIL DEAL IN GRAFT COURT BATTLE COULD COST NIGERIA USD6 BILLION, PROSECUTORS CLAIM
November 1st, 2018
A 2011 oil deal at the centre of a huge corporate fraud and corruption trial currently underway in a Milan court would see Nigeria lose nearly USD6 billion if it is not overturned, according to a report from Global Witness. Quoting claims made in the case, ‘Take the Future’ alleges that Italy’s partly state-owned Eni and Anglo-Dutch Shell knew that much of the USD1.1 billion they paid for a license to explore OPL 245 (oil prospecting licence) an offshore oil field in the Niger delta, ended up in the pockets government officials and did not end up in ...
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