The House of Representatives will today begin a fresh probe into the role played by the federal government and two multinational oil giants (Agip and Shell) in the alleged round tripping of proceeds in the sale of the contentious Oil Prospecting License (OPL) 245 in favour of Malabu Oil and Gas Limited.
In a deal federal lawmakers described as “shady”, reports fingered top presidency officials of perpetuating one of the biggest financial heists in the country’s history, following the out of court settlement between the listed parties and the subsequent payment of $1.1 billion to Malabu Oil and Gas.
In October, a Leo Ogor-led ad hoc panel investigating the OPL deal stopped the two-day public hearing midway after the ministries of Finance, Petroleum Resources, Central Bank of Nigeria (CBN) and the Accountant-General of the Federation (AGF) all failed to produce all relevant documents connected to the OPL deal.
Leadership
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