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Malabu Oil scandal: #FinCEN Files: U.S. probe didn’t link Obasanjo, Jonathan over OPL 245 fund transfers
Two former Nigerian presidents, Olusegun Obasanjo and Goodluck Jonathan, were probed for years by the United States authorities, through the Financial Crimes Enforcement Network (FinCEN), an agency of the U.S. Department of Treasury.
The review of FinCEN files showed that financial records of the former Nigerian leaders were closely scrutinised in relation to investigations about the Malabu OPL245 scandal.
Both men were probed alongside other individuals and companies suspected to have been involved in the controversial scheme.
Details of the probe are part of #FinCEN files, a new investigation by the International Consortium of Investigative Journalists (ICIJ), BuzzFeed and 108 media partners across the world, including PREMIUM TIMES.
The files are a large volume of confidential financial reports relating to the transaction activities of world leaders, terrorists, drug dealers and money launderers.
The investigation involved 16-month collaborative work involving more than 400 journalists in 88 countries.
The files include a large number of Suspicious Activity Reports (SARs) filed by banks and other financial institutions to the U.S. Government as required by the Bank Secrecy Act, with the total amount in suspicious transactions reported being $2 trillion ($2,099584,477,415.49).
Fresh Details
A review of the #FinCEN files showed that individuals pencilled for investigations in connection with the Malabu OPL 245 saga included Messrs Obasanjo and Jonathan, Ednan Agaev (former Russian diplomat and project consultant), Daniel Etete (former Nigerian petroleum minister), Mohammed Abacha (son of former Head of State, General Sani Abacha), Abubakar Aliyu (Abuja-based businessman and property merchant), among others.
The documents indicated that based on a request from FinCEN, Deutsche Bank Trust Company Americas (“DBTCA”) kept a close tab on all fund transfers related to the named individuals and companies that passed through its network, especially those connected to Malabu OPL 245.
As part of the inquiry, DBCTA conducted a search of its wire transfer database for transactions occurring between January 1, 2010, and June 21, 2013, involving individuals and companies American authorities suspected may have benefited from the Malabu largesse.
This search identified three hundred and ten (310) transactions, totalling $761,263,590.63, sent and received during the period — all in amounts ranging from $300 to $400,000,000.
However, within the period under review, #FinCEN found that there were no transactions involving Mr Jonathan.
There were also no transactions involving Systems Numeric, Novel Properties and Development, Novel Properties, Daniel Etete, Mohammed Abacha and Diane Detalle-Arnold, a British artist whose connection to the Malabu saga remained unclear.
In the case of former President Olusegun Obasanjo, there were also no transactions related to Malabu. The 29 financial transactions associated with him during the period were linked to his charity works, payments for international travels, honorarium for speaking engagements, transfers to family members and payment for other domestic concerns.
Some parties standing trial or testifying in the long-running Malabu trial in Italy have mentioned Messrs Obasanjo and Jonathan as playing some roles in the infamous saga. But the former presidents have consistently rejected allegations they benefited from the transaction or engaged in any wrongdoing.
Mr Obasanjo governed Nigeria between 1999 and 2007, while Mr Jonathan was president between 2010 and 2015. Both men were elected presidents on the platform of the then ruling Peoples’ Democratic Party, PDP.
Other Details
Further checks through #FinCEN, however, revealed details of transactions made by a controversial businessman named in the scandal, Abubakar Aliyu, and some companies through which huge funds were moved.
Mr Abubakar is popularly regarded as the owner of one of Abuja’s most luxurious buildings and a friend to a number of Nigerian government officials, past and present.
Former Nigerian oil Minister Dan Etete, involved in the Malabu Scandal.
A PREMIUM TIMES report had detailed how former Minister Etete transferred huge funds from Malabu Oil and Gas bank accounts to those of companies controlled by Mr Abubakar.
In 2016, Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), filed money laundering charges against him for roles the agency claimed he played in the Malabu $1.1 billion saga.
He is being prosecuted alongside former Minister Etete, a former Attorney General, Mohammed Adoke; Malabu Oil and Gas; and five other companies he (Mr Abubakar) allegedly controls.
He is also being tried in Italy for his role in the matter.
The FinCEN files showed that there were fifty-seven (57) transactions involving Mr Abubakar, totalling $113,336.
The Bank to Bank Instructions for the transactions included details like “Travelling Expenses”, “Estacode Allowance”, “Accommodation Fees”, “Allowance”, “Feeding Allowance”, “School Fees for Aliyu Abubakar (B Int’l Business Admin) and “Upkeep”.
Aside from those of Mr Abubakar, other accounts that were checked included those of Malabu Oil and Gas, Rocky Top Resources Limited, AS Sunnah Bureau De Change Limited, Mega Tech Engineering Limited, Megatech Engineering, Megatech Engineering Construction, Mega Tech Engineering and Construct Equipment Est, Pt Megatech Engineering, A Group Construction Company Ltd, and Imperial Union Limited.
The FinCEN papers showed that there were 94 transactions involving Rocky Top Resources Limited, totalling $271,614,022.15.
The Bank to Bank Instructions (BBI) for the transactions included information about “Payment OPL 245 Malabu Oil and Gas”, “Aviation Bombardier Global”, “Oklahoma account”, “in favour of m jeanmichel bargiarelli”, “f of chief dl /etete”, among others.
For Megatech Engineering, Megatech Engineering Construction, Mega Tech Engineering and Construct Equipments Est, and Pt Megatech Engineering, there were forty-one (41) transactions totalling $2,011,311.56 sent from January 21, 2010, through May 30, 2013.
The BBI for the transactions included information on “Parker Hannifin India Pvt Ltd”, “Import Financing”, “Overpayment Refund”, “Trade Purposes”, “Chennai Trade Purposes”, and “Payment For Invoice”.
In the case of A Group Construction Company Ltd, there were three transactions totalling $5,174,520 sent from 2011 through March, 2012. One of those transactions, involving $500,000, was sent from Mega Tech Engineering Limited on November 10, 2011, and the BBI indicated “Trf Fro Abuja Aminu Kano Way”.
For Imperial Union Limited, there was one transaction in the amount of $30,450,000 sent on December 9, 2011. The BBI for the transaction showed “Trf Frm Abuja Banex Plaza Br”.
In the case of Agaev Ednan, a payment of $200,000 was made to him on May 7, 2012. There was another transaction involving a partial name “Agaev” in the amount of $200,000 sent on May 6, 2012. The BBI for both transactions indicated “Loan Repayment”.
Mr Agaev, a middleman and defendant in the case, once claimed Mr Jonathan allegedly received $200 million in the controversial deal, an allegation the former president rejected.
The Russian middleman helped negotiate the transfer of the OPL 245 oil block to Shell and Eni.
For OPL 245, there were six transactions with the description “NAE OPL 245,” and two transactions labelled “OPL 245”, totalling $11,889,520.50. The payments were made between September 23, 2011, and June 14, 2013.
One of the transactions was initiated by Rocky Top Resources Limited for $6,100,000 and the Bank to Bank Instructions for the payment showed information on “Payment Invoices” and “Payment OPL 245 Malabu Oil and Gas”.
There were two (2) transactions named “Malabu Oil and Gas Ltd”, totalling $406,100,000 and sent on August 23, 2011. One of these transactions was sent from Rocky Top Resources Limited for $6,100,000. No address was listed for “Malabu Oil and Gas Ltd” in the transaction details. The Bank to Bank Instructions for the transactions indicated “Payment OPL 245 Malabu Oil and Gas”.
Meanwhile, in another SAR filing, Rocky Top Resources made three transactions totalling $16,999,817. The transfers, made between April 30, 2012, and May 10, 2012, originated from account Number 3610042596 domiciled at a Keystone Bank branch on Adeola Hopewell Street in Lagos. The bank utilized U.S. correspondent bank, Deutsche Bank Trust Co Americas, to remit the funds.
The purpose of the transactions, as stated in the Remittance Reference, is “/AE250110090030200009452”.
The Malabu Scandal
In 1998, the Nigerian government allocated OPL 245, one of Africa’s richest oil blocks, to Malabu Oil and Gas, a company formed in violation of Nigeria’s Corporate and Allied Matters Act.
PREMIUM TIMES reported how officials approved the transfer of about $1.1 billion from the Nigerian government’s account in London into Malabu accounts controlled by Mr Etete.
The money was paid by oil giants, Shell and ENI, into a federal government account, for OPL 245, estimated to contain nine billion barrels of crude.
Only $801 million of the money could be transferred to Mr Etete’s Malabu due to legal issues raised in a British court by Emeka Obi, a businessman who is also being prosecuted in Italy.
After the transfer to Mr Etete, over half of the money was paid to accounts of the five companies controlled by Mr Abubakar. Authorities in Nigeria, UK, and Italy accuse Mr Abubakar and other individuals and companies of wrongdoing in the matter, charges they all deny.
Mr Abubakar is alleged to have laundered funds to some politically exposed persons who benefitted from the funds, including officials who served under Mr Jonathan.
Credit: Premium Times
The Honourable Minister of the Federal Capital Territory (FCT), Barr. Ezenwo Nyesom Wike, has dismissed as baseless and diversionary, widespread rumours about his collapse and being rushed abroad for treatment.
Speaking to journalists in Abuja on Thursday, following a routine inspection of ongoing infrastructure projects slated for commissioning in May to commemorate President Bola Ahmed Tinubu’s second anniversary in office, Barrister Wike categorically denied the claims, saying that they were untrue.
He attributed the spread of these rumours to political machinations, specifically pointing to those he alleged, sought to divert attention from serious allegations of planned attacks on national assets, including the Rivers State House of Assembly complex as revealed by a former Head of Service of Rivers State government.
He said, “What happened was that the former Head of Service of Rivers State government came out to let the public know what was going on about a plan to bomb the House of Assembly complex and attack national assets. To divert the attention of people from focusing on that, they had to bring up rumours that I had been flown overseas. There was never a time I collapsed, there was never a time anybody took me overseas”.
The Minister said he was focused on his job of providing good governance in the FCT and would not be distracted by such unfounded rumours.
Barr. Wike emphasized his continued public engagements, citing his presence at the President’s Iftar engagement and his leading of Abuja residents during the Sallah homage to the President as evidence of his robust health. “You see me every day. The day Mr. President broke Iftar during his birthday, I was there. The next day, I led Abuja residents to pay Sallah homage. I see so many stories online, this is politics. Those things don’t bother us. We are not distracted. We are focused on our jobs.”
He thanked Nigerians for their concern but cautioned against wishing ill health on others, reiterating that only God determines the time of one’s passing. “I thank Nigerians for showing concern, but people should not wish their fellow human beings such a thing to happen. We know that we will die one day, nobody will remain in this world forever, but it’s only God who determines the day you will die. No human being can say you will die today or tomorrow. So, don’t bother yourself, I’m very agile and I can assure you that I will write the condolence letters for those peddling these rumours.”
Speaking on the infrastructure projects he inspected, Barr. Wike expressed satisfaction with the progress of work at the International Conference Centre (ICC) renovation, the Arterial road N16 in Gishiri and its interchange connecting Maitama District to Katampe, and the Judges Quarters and its access roads in Katampe District.
He said, “We were at the International Conference Centre where much work has been done. They are keeping to the time that they have given and they are also doing a good quality job. We’ve gone to Gishiri and the roads leading to the Justices Quarters. I’m very much impressed with the good jobs and the contractors handling these projects. You can attest to the fact that this is a quality job being carried out”.
He commended the contractors, including Julius Berger and CGC, for their commitment to delivering the projects on schedule and assured that funding, with the support of President Tinubu, was not a challenge.
He encouraged taxpayers to fulfill their obligations, promising that they will witness the tangible results of their contributions. “All we will say is that those who are supposed to pay their taxes should pay their taxes, and ask us what we are doing with taxpayers’ money. They can see what we are doing with taxpayers’ money.”
The Supreme Court has sacked Julius Abure as National Chairman of the Labour Party in a ruling that was delivered on Friday in Abuja.
The judgment has put paid to a prolonged legal battle of the party. In a unanimous judgment, In a delivered by a five-member panel, held that the Court of Appeal had overstepped its jurisdiction when it declared Abure as the party’s leader.
The Supreme Court ruled that the issue of party leadership is an internal affair beyond the jurisdiction of the courts, thereby overturning the lower court’s ruling. This decision has significant implications for the Labour Party, which has been embroiled in leadership tussles in recent months.
The judgment came after an appeal filed by Senator Nenadi Usman and another appellant, challenging Abure’s claim to the chairmanship. The court found their appeal meritorious and accordingly upheld it, solidifying the legal stance that party leadership disputes should be settled within party structures rather than through litigation.
In a further blow to Abure’s camp, the Supreme Court dismissed a cross-appeal filed by his faction of the Labour Party, describing it as lacking merit.
With this ruling, the legal battles surrounding the leadership of the Labour Party may have reached their final chapter, barring any internal resolutions or new legal maneuvers by the affected parties.
The verdict has sparked reactions from political analysts and party stakeholders, with some expressing concerns over the stability of the Labour Party ahead of the next electoral cycle. The party, which emerged as a formidable force in the 2023 general elections, now faces the challenge of reorganizing its leadership and uniting its members.
While the ruling may settle the legal aspect of the dispute, the political ramifications are far from over.
Party members and loyalists of Abure may seek internal resolutions or political realignments to navigate the fallout of this decision. The Labour Party’s next steps will be crucial in determining its future strength and cohesion on the national stage.
As of press time, Abure’s camp has not issued an official statement on the ruling, while other factions within the party have welcomed the decision, calling it a victory for internal democracy.
In a landmark ruling today, the Supreme Court of Nigeria delivered a judgment that has been hailed as a significant victory not only for the Labour Party (LP) but also for Nigeria’s democracy. The ruling, which saw the removal of Mr. Julius Abure as the National Chairman of the Labour Party, is widely regarded as a triumph of democracy, the rule of law, and the resilience of Nigeria’s judicial system.
The statement celebrating the historic judgment was issued by the Labour Party National Caretaker Committee Secretary, Sen. Darlington Nwokocha who was present at the Supreme Court in Abuja during the judgment. The Secretary expressed immense gratitude to the Justices of the Supreme Court for their fair and forthright decision, which was described as a beacon of hope for the country’s democracy.
“This ruling is a monumental victory for the Labour Party and, more importantly, for the future of Nigeria’s democracy,” said the Secretary. “It demonstrates that the Judiciary remains the last hope for the common man, ensuring that justice and the rule of law prevail in the face of challenges.”
The Labour Party National Caretaker Committee (LP NCC) emphasized that the judgment is a clear indication that despite the struggles Nigeria faces, the nation’s democracy is resilient, and the judicial system remains a pillar of strength. It is also seen as a crucial step towards unifying the party and fostering an environment conducive to political reform and nation-building.
“This historic ruling is not only a victory for the Labour Party, but also for the Nigerian people and our democracy. It affirms that the rule of law will always be upheld,” the statement continued. “We now have an opportunity to rebuild Nigeria’s democracy and strengthen our party, which remains the political party of choice for millions of Nigerians.”
The Labour Party extended a call to all Nigerians, irrespective of political affiliation, to unite with the party in its efforts to restore and rebuild the nation’s democracy. “We call on all Nigerians to join hands with the Labour Party in the mission to restore the true values of democracy, justice, and equity in Nigeria,” the statement urged.
The judgment is being seen as a significant milestone not only for the Labour Party but for the entire nation, as it underscores the importance of a free, fair, and independent judiciary in maintaining democratic principles. The ruling have now firmly brought to an end the perennial leadership crisis within the Labour Party, enabling it to focus more effectively on its agenda for a better Nigeria.
The Labour Party also took this moment to express their deep appreciation to their supporters for their unwavering dedication and solidarity. “We thank Nigerians for their resilience, support, and trust in our cause. The Labour Party remains the people’s party, and together, we will continue to fight for a more just, equitable, and prosperous Nigeria,” the Secretary concluded.
As the Labour Party moves forward, it is committed to uniting its members and supporters to build a Nigeria free from oppression, where justice and fairness are upheld for all. The Supreme Court’s ruling today serves as a powerful reminder that in Nigeria, the law is supreme, and democracy will always triumph.
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