EFCC BEGINS PROBE OF $2B MALABU OIL DEAL

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The Economic and Financial Crimes Commission has initiated a discreet probe into the $2billion Malabu Oil deal to ascertain whether the Country was short-changed. The agency may interact with those who were parties to the agreement including five former ministers, an ex-Group Managing Director of NNPC and top officials of the Department of Petroleum Resources.

Already, a former Attorney-General of the Federation and Minister of Justice, Mr. Mohammed Bello (SAN), has written to the EFCC on how the deal was struck with Shell Nigeria Ultra Deep Limited (SNUD). He said although the 2006 transaction predate his appointment as the nation’s former AGF, it was transparent and value-driven.

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