Dan Etete, was found guilty of money laundering by a French court in 2007.[5][6] He was also found to have used illicit funds to buy a speedboat and a chateau.[5] Since then, Dan Etete has been involved in series of illegal and fraudulent business practices both local and abroad.[7] In the year 2007, he was convicted and sentenced to 3 years imprisonment also with a fine of 300,000 euros(about $440,000) by the French Government for money laundering.[8] Later on he was pardoned by the French government in the year 2014,[9] Dan Etete's illegal involvement or activities did not stop there but continued as he was said to have been involved in helping to facilitate[10] the illegal transfer $1.3 billion for the sale of the oil block owned by Malabu Company from Shell and Eni and transferred to the company during the former Nigerian President[11]Goodluck Jonathan's administration,[12] who was also claimed to be involved in the fraudulent deal in 2011.[13]
CorruptionEdit
In 2011, as a former Minister of Petroleum under military dictator General Sani Abacha, Dan Etete facilitated the transfer of payment of $1.1 billion to Malabu Oil and Gas. Malabu was set up in 1998 by Dan Etete using a false identity so as to award himself a lucrative oil block, OPL 245,[14] for which he paid only $2 million of the $20 million legally required by the state.
At the time of Goodluck Jonathan's government, Dan Etete was said to have helped facilitate the transfer of payment from Shell and Eni to Malabu Oil and Gas. The Economist reports that only $800 million out of the $1.1 billion meant for Malabu Oil and Gas was ever remitted by the Nigerian government. The Nigerian Attorney General, Mohammed Bello Adoke, who signed the documents involved in facilitating the payments, denied the rest was shared by public officials.[15] The transfer to convicted felon,Dan Etete, only came to public light when a Russian lawyer that claimed to have helped Malabu negotiate a deal with the Jonathan's government sued in New York for a $66 million unpaid commission.[16]
Both Shell and Eni, as of September 2014, are under investigation for corruption[17] by the UK and Italy authorities for the incidence.[18][19]
In 2017, e-mails obtained by anti-corruption charities Global Witness and Finance Uncovered apparently revealed that Shell's executives were negotiating [20] directly with Dan Etete for a year before the oil deal that corruptly enriched Dan Etete was finalised.[21][22]
ReferencesEdit
^"The ripples of OPL 245". www.africa-confidential.com. Retrieved 2021-09-13.
^King, Ben (2017-04-11). "Shell admits dealing with money launderer". BBC. Retrieved 2019-06-08.
^Ben, Chapman (2018-09-23). "Two men convicted of corruption over Shell and Eni Nigerian oil deal". The Independent. Retrieved 2019-06-08.
^"Court orders arrest of former Nigeria petroleum minister". The Guardian Nigeria News - Nigeria and World News. 2020-01-30. Retrieved 2021-09-18.
^ abPadmore, Russell (2018-11-26). "Nigeria loses $6bn from 'corrupt' oil deal". BBC. Retrieved 2019-06-08.
^Parodi, Emilio (2018-12-17). "Eni, Shell knew of 'sharks' in Nigeria graft case: judge". Reuters. Retrieved 2019-06-08.
^"Malabu: Why EFCC filed corruption charges against Shell, Eni, Adoke, others | Premium Times Nigeria". 2017-03-03. Retrieved 2021-09-16.
^"Former Nigerian oil minister convicted in France". Sahara Reporters. 2007-11-07. Retrieved 2021-09-16.
^Odunsi, Wale (2014-03-31). "Money laundering charges: France pardons Dan Etete". Daily Post Nigeria. Retrieved 2021-09-16.
^"Facilitate - Definition, Meaning & Synonyms". Vocabulary.com. Retrieved 2022-03-10.
etete, born, january, 1945, chief, dauzia, loya, etete, former, nigerian, minister, petroleum, 1995, 1998, under, regime, sani, abacha, 1995, convicted, money, launderer, year, 2007, federal, minister, petroleumin, office, 1995, 1998personal, detailsborn, 1945. Dan Etete born 26 January 1945 aka Chief Dauzia Loya Etete was the former Nigerian Minister of Petroleum 1995 1998 under the regime of Gen Sani Abacha s 1995 and was convicted as a money launderer in the year 2007 1 2 3 4 Dan EteteFederal Minister of PetroleumIn office 1995 1998Personal detailsBorn 1945 01 25 25 January 1945 age 78 Biography EditDan Etete was found guilty of money laundering by a French court in 2007 5 6 He was also found to have used illicit funds to buy a speedboat and a chateau 5 Since then Dan Etete has been involved in series of illegal and fraudulent business practices both local and abroad 7 In the year 2007 he was convicted and sentenced to 3 years imprisonment also with a fine of 300 000 euros about 440 000 by the French Government for money laundering 8 Later on he was pardoned by the French government in the year 2014 9 Dan Etete s illegal involvement or activities did not stop there but continued as he was said to have been involved in helping to facilitate 10 the illegal transfer 1 3 billion for the sale of the oil block owned by Malabu Company from Shell and Eni and transferred to the company during the former Nigerian President 11 Goodluck Jonathan s administration 12 who was also claimed to be involved in the fraudulent deal in 2011 13 Corruption EditIn 2011 as a former Minister of Petroleum under military dictator General Sani Abacha Dan Etete facilitated the transfer of payment of 1 1 billion to Malabu Oil and Gas Malabu was set up in 1998 by Dan Etete using a false identity so as to award himself a lucrative oil block OPL 245 14 for which he paid only 2 million of the 20 million legally required by the state At the time of Goodluck Jonathan s government Dan Etete was said to have helped facilitate the transfer of payment from Shell and Eni to Malabu Oil and Gas The Economist reports that only 800 million out of the 1 1 billion meant for Malabu Oil and Gas was ever remitted by the Nigerian government The Nigerian Attorney General Mohammed Bello Adoke who signed the documents involved in facilitating the payments denied the rest was shared by public officials 15 The transfer to convicted felon Dan Etete only came to public light when a Russian lawyer that claimed to have helped Malabu negotiate a deal with the Jonathan s government sued in New York for a 66 million unpaid commission 16 Both Shell and Eni as of September 2014 are under investigation for corruption 17 by the UK and Italy authorities for the incidence 18 19 In 2017 e mails obtained by anti corruption charities Global Witness and Finance Uncovered apparently revealed that Shell s executives were negotiating 20 directly with Dan Etete for a year before the oil deal that corruptly enriched Dan Etete was finalised 21 22 References Edit The ripples of OPL 245 www africa confidential com Retrieved 2021 09 13 King Ben 2017 04 11 Shell admits dealing with money launderer BBC Retrieved 2019 06 08 Ben Chapman 2018 09 23 Two men convicted of corruption over Shell and Eni Nigerian oil deal The Independent Retrieved 2019 06 08 Court orders arrest of former Nigeria petroleum minister The Guardian Nigeria News Nigeria and World News 2020 01 30 Retrieved 2021 09 18 a b Padmore Russell 2018 11 26 Nigeria loses 6bn from corrupt oil deal BBC Retrieved 2019 06 08 Parodi Emilio 2018 12 17 Eni Shell knew of sharks in Nigeria graft case judge Reuters Retrieved 2019 06 08 Malabu Why EFCC filed corruption charges against Shell Eni Adoke others Premium Times Nigeria 2017 03 03 Retrieved 2021 09 16 Former Nigerian oil minister convicted in France Sahara Reporters 2007 11 07 Retrieved 2021 09 16 Odunsi Wale 2014 03 31 Money laundering charges France pardons Dan Etete Daily Post Nigeria Retrieved 2021 09 16 Facilitate Definition Meaning amp Synonyms Vocabulary com Retrieved 2022 03 10 president Definition Responsibilities amp History Britannica www britannica com Retrieved 2022 03 09 Administration Definition Meaning amp Synonyms Vocabulary com Retrieved 2022 03 10 Arusuraire Olivia 2018 09 04 Where Is Nigeria s Former Oil Minister Dan Etete Olatorera Consultancy Limited Retrieved 2021 09 13 How Ex Nigerian Petroleum Minister Dan Etete Laundered Millions Of Dollars Sahara Reporters 16 June 2013 Safe sex in Nigeria The Economists 15 June 2013 Nigeria oil deal puts focus on energy sector Financial Times 20 May 2012 Corruption Definition Meaning amp Synonyms Vocabulary com Retrieved 2022 03 10 UK police probing Shell ENI Nigerian oil block deal Reuters 24 July 2014 Eni chief under investigation Energy News Premium 12 September 2014 Negotiation Definition Meaning amp Synonyms Vocabulary com Retrieved 2022 03 11 Malabu suspected fraudster Dan Etete accuses ex commissioner of fraud Premium Times Nigeria 2014 04 16 Retrieved 2021 09 14 Shell and the money launderer Damning emails of Nigerian deal Evening Standard UK 10 April 2017 nbsp Nigeria portal Retrieved from https en wikipedia org w index php title Dan Etete amp oldid 1164914771, 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