Former minister of petroleum Dan Etete says Nigerians courts have no choice but to drop charges against him following an Italian court Verdict that there was no corruption involved in the OPL 245 transaction.
Heritage Times had reported how an Italian court on March 17 acquitted Shell, Eni and other defendants of corruption charges in the OPL 245 deal.
The OPL 245 deal involved the $1.3 billion purchase of an oil bloc by Royal Dutch Shell and Eni from Malabu, a company in which Etete held majority shares.
Of the sum, $210 million went into government coffers as “signature bonus” and the rest was paid to Malabu Oil and Gas, the original owners of the block.
Etete, through Anthony Secci, his lawyer, had argued that the deal was legally “perfect” and corruption-free.
However, prosecutors alleged that $1.1 billion went to politicians and intermediaries, with 50 percent of it going to Etete personally.
Etete who reacted to the court Verdict via a statement seen by Heritage Times, described the judgement as satisfactory.
According to him, the ruling has “rightly acquitted” him of corruption and corrupt behaviour following “a brutal and diligent 36 months trial”.
He also disclosed that Malabu Oil and Gas lost over $10 billion to the corruption allegations tied to the oil block, adding that his reputation dropped over allegations of corruption levelled against him.
Etete who said the federal government must live with the court decision, noted that the Milan Court was specifically chosen by FG to settle the dispute.
While there are indications that Nigeria may appeal the judgment, Etete is still being tried in absentia by the Economic and Financial Crimes Commission (EFCC).
“The Court has confirmed that no bribes were paid to anyone and that there is no case to answer on the issue,” the statement read.
“The acquittal in Milan is therefore determinative in all jurisdictions, including Nigeria.
“Any and every Order made against Chief Dan Etete in any Nigerian Court or directly or indirectly in any other court on alleged corruption on OPL 245 are hereinafter entirely invalid and will be struck out.”
The former minister also dedicated lines of commendations to those who stood by him during the corruption trial, especially the good people of Bayelsa.
