AGF queries Magu over probe of 1.1bn Malabu oil scam, demands explanation

The Economic and Financial Crimes Commission (EFCC) has been accused by the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), of conducting a careless investigation into the $1.1 billion Malabu Oil fraud.

And apparently sad with this development, the AGF in a memo marked DPPA/FMPR/108/17, queried the EFCC acting chairman, Mr. Ibrahim Magu, to explain the reason for the shoddy investigation.

The AGF in the memo wondered how Magu’s EFCC could be so careless not to have included some “principal players” in the alleged fraudulent sale of OPL 245 as defendants in any of the charges the commission filed in court.

Malami pointed at one of the principal players in the scam left out by the EFCC, one Rasky Gbinigie, who used to be a company secretary of Malabu Oil and Gas Ltd.

He noted in the memo that Gbinigie was instrumental in the filing of forms at the Corporate Affairs Commission that fraudulently changed the directors and the share structure of the company.

Malami further wondered how Seidugha Munamuna and Kweku Amefegha, the duo, who were not only consistent directors of the oil firm, but held varying share allotments in the company, were also exempted from prosecution by the EFCC.

The AGF said he became disappointed in the investigation after vetting the case-file that contained charges against the former AGF, Mr. Mohammed Adoke (SAN), and a former Minister of Petroleum Resources, Chief Dan Etete, among others.

According to the AGF, a review of the case-file showed that the entire proof of evidence EFCC adduced after its investigations would in no way support the charge of fraud, conspiracy and money laundering the anti-graft agency leveled against Adoke and his co-defendants.

He therefore said that it was not viable for the commission to continue with the charges against the Malabu Oil deal scam suspects as currently constituted and demanded for a more holistic investigation.

Consequently, the AGF directed the EFCC to take steps to urgently file an application for a worldwide Mareva injunction and or for forfeiture of assets of beneficiaries of the $1.1 billion Malabu Oil deal, pending the conclusion of the investigation.

Meanwhile, the Federal High Court in Abuja on Thursday admitted the AGF’s letter, dated September 20, 2017, as an exhibit in a suit seeking to quash EFCC’s charge against Adoke and others fingered in the Malabu fraud.

READ ALSO: Diezani says EFCC lacks understanding of govt workings, denies withdrawing $1.3bn from NNPC accounts

The letter which was tendered by Adoke’s legal team led by Chief Kanu Agabi, (SAN), was admitted by Justice Binta Nyako.

Adoke, who was AGF during former President Goodluck Jonathan’s administration, is challenging the competence of two sets of criminal charges EFCC preferred against him over the alleged oil bloc fraud in court.

In his application challenging the charges, Adoke argued that he only played intermediary role in the enforcement of an out-of-court settlement deal that preceded his assumption to office as an AGF.

Trial Justice Nyako slated February 28 to determine the merit of Adoke’s suit.

 

RipplesNigeria… without borders, without fears

Click here to join the Ripples Nigeria WhatsApp group for latest updates.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now