transaction concerning the controversial Oil Processing Lease 245.
The transactions surrounding the OPL 245 are otherwise referred to as Malabu Oil scam, a description derived from the name of the firm which played a key role in the alleged fraudulent deals which spanned many years. The other defendants are A-Group Construction Company Limited, Rocky Top Resources Limited, Mega Tech Engineering Limited, Novel Properties and Development Company Limited, imperial Union Limited and Carlin International Nigeria Limited.
The EFCC said the defendants “reasonably ought to have known that the funds formed part of the an unlawful activity” of “negotiation, signing and payment in respect of the Block 245 Resolution Agreement between the Federal Government of Nigeria with Shell Nigeria Ultra Deep Limited, Nigerian National Petroleum Corporation, Nigeria Agip Exploration Limited, and Shell Nigeria Exploration and Production Company Limited.
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