Home Business Court orders return of Malabu oil block, OPL 245, to FG
Court orders return of Malabu oil block, OPL 245, to FG
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Court orders return of Malabu oil block, OPL 245, to FG

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TVC N. The federal high court, Abuja, has given the federal government control of the controversial OPL 245, pending investigation into the $1.1 billion Malabu oil deal.

John Tsoho, a judge, gave the order, following an ex parte motion filed by the Economic and Financial Crimes Commission (EFCC).

The OPL245 was said to have been acquired from the federal government by Malabu Oil and Gas Limited in 1998.

It was later sold Shell and Agip.

“The property known as Oil Prospecting License (OPL 245) is to be managed by the Department of Petroleum Resources on behalf of the federal government of Nigeria pending the conclusion of investigation and prosecution,” he had declared.

On December 20, 2016, the EFCC in a nine-count charge, accused Mohammad Adoke, a former attorney-general of the federation, and nine others of defrauding the federal government.

The house of representatives has also reopen its own investigation into the oil deal.

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