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Home Anti-Corruption ENI speaks on $1.6b Malabu oil block, Says No Fraud Was Committed
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ENI speaks on $1.6b Malabu oil block, Says No Fraud Was Committed

By
Prnigeria
-
March 1, 2017
Eni Oil
Eni Oil

Eni Oil
Eni Oil

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 an independent US law firm conducted the investigations and returned a not guilty verdict.

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The statement said: “Eni’s Board of Directors today takes note of the outcome of further forensic investigations into the 2011 transaction between Eni and Shell and the Nigerian Government for the acquisition of the OPL 245 licence in Nigeria.

The investigations were conducted by an independent US law firm. They were commissioned by Eni’s Board of Statutory Auditors and Watch Structure.
“The investigations examined the new materials and further information filed by the Milan prosecutors as part of the closure of the investigation in December 2016.

“The law firm confirms the conclusions reached by previous investigations in 2015, stating that there is no evidence of corrupt conduct in relation to the transaction.

Eni’s Board of Directors confirmed its total confidence that neither the company nor its CEO Claudio Descalzi were involved in alleged illicit conduct under investigation.”

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Local Government Autonomy Not Negotiable — FG DeclaresNigeria’s Future Rests on Smart Defence Management — Badaru to Military LeadersCustoms Hands Over 99.2bn Worth of Illicit Pharmaceutical Products to NAFDACTroops Intercept 3 Gunrunners, Seize Weapons, Cash in KadunaTroops Bust IPOB/ESN Logistics Network, Arrest Informants in Southeast — DHQSoludo and Radda’s Candid Confessions on Homegrown Terror By Tahir AhmadRat Story Was a Smokescreen to Divert Attention from Buhari’s Health - Garba Shehu RevealsNigeria's Second Chance at a Global Cashless Future By Fatimah Yusuf UsmanAir Chief Rallies New Intelligence Officers for Proactive Security ResponseCustoms, NAFDAC Activate MoU to Fight Substandard Products By Abdullah MaiwadaNELFUND Resumes Monthly Upkeep Payments, Credits Over 3,600 StudentsNNPCL Must Account for ‘Unreconciled’ N210tr in Financial Statements - Senate InsistsPresidency Debunks Misleading Reports on VP Shettima’s Remarks at Book LaunchPolice Arrest, Repatriate Chinese Fugitive Wanted for Tax FraudMurder of Wedding Guests: Plateau Court Remands 20 Suspects
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