Okunbor
The Economic and Financial Crimes Commi s s i on (EFCC) yesterday furthered its investigation into the $1.3 billion Malabu oil deals. It has concluded plans to quiz the Managing Director of the Nigeria Agip Exploration Limited (NAE). A source at the commission, who confirmed this maintained that that would be a continuation of the interrogation of Managing Director of its subsidiary, Shell Nigeria Exploration and Production Company Limited (SNEPCO), Mr. Bayo Bashir Ojulari, over the where-about of N218.4 billion paid SNEPCo into an escrow account.
The SNEPCo boss, he said, has been re-invited for “further questioning at a later date pending the outcome of the quizzing of the Nigeria Agip Exploration Limited (NAE) boss.” NAE could not be reached for confirmation of the MD’s invitation but Shell confirmed the invitation and questioning of Mr. Ojulari to New Telegraph on Wednesday.
“We can confirm that Mr. Bayo Ojulari, Man aging Director of Shell Nigeria Exploration and Production Company (SNEPCo), was invited for an interview by the EFCC,” the company said in a terse statement sent by its spokesperson, Precious Okolobo, to this newspaper late yesterday evening.
“He was subsequently released on the understanding that he would be available to respond to further questions if required,’ the statement noted. The EFCC had on Tuesday quizzed the Ojulari over the controversial Malabu oil block (OPL 245) deal.
The anti-graft agency is beaming its searchlight on whereabouts of N218.4 billion ($1,092 billion) allegedly paid by SNEPCO and Nigeria Agip Exploration Limited (NAE) into an escrow account. The key area of investigation was to determine where the money was diverted to by uncovering the account in which it was lodged. Ojulari had said that there were two agreements on Malabu Oil Block deal – Block 245 Resolution Agreement and the SNUD Resolution Agreement.
“The signatories to Block 245 Resolution Agreement were: The Hon. Minister of Petroleum Resources( Mrs. Diezani Alison-Madueke), the Attorney- General of the Federation( Mr. Mohammed Bello Adoke) ;the Hon. Minister of Finance; NAE Vice Chairman and Managing Director; NAE Company Secretary; SNUD Director; SNEPCO Director; NNPC Group Managing Director and Company Secretary.
“The SNUD Resolution Agreement was signed by the Attorney-General of the Federation and Minister of Justice, the Minister of Petroleum Resources; SNUD Director, SNUD Secretary; SNEPCO Director and SNEPCO Secretary,” he was quoted to have said. The signatories to the terms of settlement were Mr. Chikelu Onyejekwe, Mutiu Sunmonu and Rasky Gbinigie for SNUD, SPDC and Malabu. “The escrow agreement was signed by Muhammed Bello Adoke for the Federal Government, Ciro A. Pagano for NAE and Olujimi Lawal for SNEPCO.
Escrow terms and conditions form part of the Escrow Agreement “By the terms of Block 245 Resolution Agreement, SNUD agreed to the release of the outstanding Signature Bonus of $207,960,000 and to appoint an escrow agent for the purpose of paying to FGN a sum of $1,092,040billion.”
Officials of Shell, the multi-national oil firm at the heart of one of the largest oil heist in Nigeria, were on March 30, questioned by Dutch investigators for their roles in the deal.