In a memo to President Muhammadu Buhari, Malami advised that the termination of the cases will allow the country enjoy the economic benefits of the controversial oil block while fossil fuels are still in vogue.
The federal government pursued both criminal and civil cases and has lost in foreign jurisdictions but the prosecution has continued in Nigeria using the same evidence that failed abroad.The cases in Nigeria are being prosecuted by the Economic and Financial Crimes Commission .In his memo dated 6 February 2023, the AGF reminded Buhari of the string of losses Nigeria has suffered over the years in trying to prove corruption and fraud in the transaction.
“IV. The US Department of Justice previously investigated the OPL 245 2011 transaction and announced in October 2019 that it was closing the case.“V. In April 2020, the US Securities and Exchange Commission also closed investigation into the controversial OPL 245 deal after it could not prove fraud or corruption.”
“ By allowing SNUD alter its position in the sums stated in to above, and without getting a corresponding value for same over time through FGN’s Policy summersault, litigation and disputes, Nigeria could reasonably be portrayed as an unfriendly investment destination whose credibility is suspect. “ Whilst the dispute and associated litigation cum Arbitration lasted, neither SNUD/NAE nor even FGN would exploit OPL 245 with negative economic consequences for FGN and the people of Nigeria particularly in terms of foreign exchange earnings, loss of Tax income and Royalty payments.
“b) Direct the total discontinuation of all investigations by all Law Enforcement Agencies, particularly, EFCC, involving ENI/NAE, SNUD & SNEPCO in relation to OPL 245. Abacha is laying claim to the ownership of Malabu Oil & Gas Ltd, the company awarded OPL 245 in 1998 by Sani Abacha, his father and then-military head of state.
O ga o.
MBuhari Wasted 8 years on unnecessary litigations
MBuhari Rogue 🖕😏
MBuhari When your Attorney general is a criminal double agent 🤣🤣🤣
MBuhari Malami and Buhari denied the country of much needed revenue during this high oil price regime just because of one man who’s the son of the former HoS, Abacha. They’ve lost the cases internationally and messed up the oil and gas business environment in 🇳🇬 to foreign investors.
MBuhari The most corrupt Attorney general in the history of Nigeria. Andooaka is a saint compared to this man. This was the same seat held by Prince Bola Ajibola 🤔 Buhari failed in this regard
MBuhari No be Malami? We understand. For eight years you people have fooled the president. If the case involved a southerner, we know Nigeria would have won the case but na Abacha family.
MBuhari Is like small dollars has enter his bank account to withdraw the court case
MBuhari Malami don collect huge brown envelope.
MBuhari Damn! Malami as a SAN is sh*tty &corrupt & got lots of vested interests & has been cashing out massively in govt since 2015, man is becoming so richer than ever now. And Yet no one seems to be talking about it. Wow SERAPNigeria
MBuhari The worst AGF. He will never win any case for Nigeria until he leaves in May. I think he's corrupt too
MBuhari This people will finally put this country into hot water.
MBuhari Before nko
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