Malabu: Nigeria Loses Over $10bn In One Deal - Reps, CSO   The House of Representatives has raised the alarm that Nigeria may have lost up to $10bn in the controversial Malabu oil deal in one transaction on Operating Licence 245. The lower chamber said available data...

Malabu bribe: Italian court postpones trial of Dan Etete, Shell, ENI An Italian court in Milan has postponed till May 14 the start of a trial of executives of Royal Dutch Shell, ENI and former Nigerian oil minister, Dan Etete, over alleged bribery in connection...

UK Agrees To Return Nigeria’s $85m Malabu Oil Loot After many years of legal fireworks, the United Kingdom has given the final clearance for Nigeria to draw down a whopping $85 million seized from entities embroiled in the controversial Malabu Oil scam. The Attorney General...

A Federal High Court in Abuja has discharged its interim forfeiture order on the controversial Oil Prospecting Licence 245, an oil block which is at the centre of the $1.2bn Malabu oil scam. Justice John Tsoho lifted the order of interim forfeiture in his ruling...

The Board of Directors of Eni(Nigeria Agip Exploration Limited) yesterday said the transactions which resulted in the auctioning of $1,616,690,656.78 Malabu oil block were not fraudulent. The oil firm said it based its position on the outcome of forensic investigations into the block. It disclosed that...