Tag malabu bribe

The Malabu Oil Deal!

The Malabu Oil Deal is a notorious corruption scandal that involved the Nigerian government, Shell, and Eni, two of the world's largest oil companies. The scandal revolves around the alleged bribery and corruption surrounding the sale of a lucrative oil block, known as OPL 245, off the coast of Nigeria.

Here's a brief summary:

• In 1998, the Nigerian government awarded OPL 245 to Malabu Oil and Gas, a company owned by former Nigerian Petroleum Minister, Dan Etete.
• In 2011, Shell and Eni acquired a 45% stake in OPL 245 from Malabu for $1.3 billion.
• Investigations revealed that a significant portion of the payment was allegedly used to bribe Nigerian officials, including Etete, to secure the deal.
• The scandal led to criminal charges against several individuals, including Etete, Shell, and Eni executives, as well as a number of Nigerian officials.

The Malabu Oil Deal has been described as one of the largest corruption scandals in history, with estimates suggesting that up to $1 billion may have been misappropriated.

Some notable tags related to the Malabu Oil Deal include:

• MalabuOilDeal

• NigeriaCorruption

• ShellCorruption

• EniCorruption

• DanEtete

• OilGate

• CorruptionScandal

• NigerianGovernment

These tags can be used to track news and updates on the scandal, as well as to raise awareness about the importance of transparency and accountability in the oil and gas industry.