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Former Minister Adoke dismisses EFCC suit against him

22 December 2016, 08:23

Abuja - Former Attorney General and Minister of Justice, Mohammed Bello Adoke, has dismissed his forthcoming prosecution by the Economic and Financial Crimes Commission (EFCC).

Adoke in a statement on Wednesday said he is unable to rationalize the charge of aiding the money laundering offences preferred against.

News 24 recalls that the EFCC  had on Tuesday filed nine charges bordering on alleged mismanagement of $1 616 690 656.78 Malabu Oil cash against Adoke and eight others.

The eight others charged alongside Adoke are a former Minister of Petroleum Resources, Dan Etete, Chairman A.A. Oil, Aliyu Abubakar, Malabu Oil and Gas Limited, Rocky Top Resource Nig. Ltd, Imperial Union Limited, Novel Property and Development Co. Limited, Group Construction Limited, and Megatech Engineering Limited.

But Adoke said the charges against him were orchestrated to bring me to public disrepute in order to satisfy the whims and caprices of some powerful interests on a revenge mission.

Also read: $2b Malabu oil scam: Atiku warns Adoke to stop maligning him

Adoke's statement read: “I wish to reiterate that I acted within the actual and ostensible authority of the Office I occupied to broker a settlement between Malabu Oil & Gas Limited and Shell Nigeria Ultra Deep Limited in order to ward off the over US $2 billion liability in damages for breach of contract which the country would have been exposed to in the likely event of the success of Shell Nigeria Ultra Deep Limited’s claim before the International Centre for the Settlement of Investment Disputes (ICSID).

“The Terms of Settlement ensured that the interests of the Federal Government of Nigeria, Malabu Oil & Gas Limited and Shell Nigeria Ultra Deep Limited were duly acknowledged and provided for in the Settlement Agreement.

The Federal Government of Nigeria was entitled to the Signature bonus which was duly paid; Malabu Oil & Gas Limited surrendered its title to OPL 245 for a consideration and Shell Nigeria Ultra Deep Limited was re-allocated OPL 245 which its had previously substantially de-risked in consideration for withdrawing their over US$ 2 Billion Dollars claim for breach of contract against the Federal Government of Nigeria.

“Since the Parties aforementioned, faithfully discharged their respective obligations under the Settlement Agreement, one cannot comprehend how the Office of the Attorney General of the Federation which brokered the Settlement was expected to renege from the agreement by denying Malabu Oil & Gas Limited the benefits associated with the relinquishing of their title to OPL 245 already warehoused in a joint FGN/Shell Escrow account, or to prevent the subsequent re-allocation of the relinquished OPL 245 to Shell Nigeria Ultra Deep Limited when the company  had already furnished consideration for it to the Federal Government of Nigeria.”

"It should be clear to any person dispassionately reviewing the transaction that I haveno personal interest in it, did not take any benefit from it, and that I had requisite approvals from the President and Commander-in-Chief of the Federal Republic of Nigeria to broker the settlement and execute the OPL 245 Settlement Agreement.

- News 24

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