• About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, June 6, 2025
Daily Concord News
  • Home
  • News
    • All
    • Africa
    • local
    • Nigeria
    • Science
    • World
    At ECOWAS’ 50th Anniversary, Amb. Yusuf Tuggar calls for Regional Unity and Peace

    At ECOWAS’ 50th Anniversary, Amb. Yusuf Tuggar calls for Regional Unity and Peace

    Amnesty International’s Report: A Fictional Drama Masquerading as Human Rights Work

    Amnesty International’s Report: A Fictional Drama Masquerading as Human Rights Work

    Wale Edun Leads Call for Customs Reform to Unlock Regional Trade Potential

    Wale Edun Explains: “Borrowing is expected to Fund Strategic Projects, Not Inflate Debt Burden”

    Wale Edun Rallies Private Sector to Deliver ₦1.5 Trillion Highway Investments

    ICIEC Endorses Nigeria’s Infrastructure Drive, Commits to Enhanced Private Sector Participation

    Investor Confidence in Nigeria Deepens as Renaissance Capital Visits Finance Minister

    Wale Edun and Nigeria’s Economic Turnaround: A Case for Renewed Confidence

    How the Borno Governor, Prof. Babagana Zulum, Got It Wrong on Insecurity

    How the Borno Governor, Prof. Babagana Zulum, Got It Wrong on Insecurity

  • Politics
  • Business
  • Sports
  • Entertainment
    • All
    • Gaming

    Timipre Sylva Inaugurates the National Gas Expansion Programme, Committee

  • Tech
    NASENI Excited Over President Tinubu’s “Nigeria First Policy”

    NASENI, PICTT Restate Commitment to Promote Female Engineering with Launch of DELT-Her 2.0

    NASENI Champions the Made-in-Nigeria Products Drive in Kebbi State

    MTN and Globacom Avoid Disconnection as Debt Dispute Resolved

    MTN and Globacom Avoid Disconnection as Debt Dispute Resolved

    Kwik Launches On-Demand E-Commerce Fulfillment Service In Nigeria With KwikShelf

    Kwik Launches On-Demand E-Commerce Fulfillment Service In Nigeria With KwikShelf

    DG NITDA Urges Computer Sciences Students to Drive ICT Innovation

    How To Apply For Bridge To MassChallenge Nigeria 2021

    How To Apply For Bridge To MassChallenge Nigeria 2021

    Trending Tags

  • Lifestyle
    • All
    • Culture
    • Food
    • Health
    Diary of a Naija Girl’s Ifedayo Agoro & Frank Itom Are Engaged!

    Diary of a Naija Girl’s Ifedayo Agoro & Frank Itom Are Engaged!

    At Avalanche Book Launch, Nigerians Call For More Resources On Mental Health And Trauma Management

    At Avalanche Book Launch, Nigerians Call For More Resources On Mental Health And Trauma Management

    Femi Odekunle; The Pains That Won’t Go! By Haruspice

    Femi Odekunle; The Pains That Won’t Go! By Haruspice

    The Unifying Factor of Culture

    Examining Arts as a Unifying Elements

    The Unifying Factor of Culture

    The Unifying Factor of Culture

    Senate President Greets Asiwaju Bola Tinubu @69

    Senate President Greets Asiwaju Bola Tinubu @69

    Trending Tags

  • Opinion
No Result
View All Result
  • Home
  • News
    • All
    • Africa
    • local
    • Nigeria
    • Science
    • World
    At ECOWAS’ 50th Anniversary, Amb. Yusuf Tuggar calls for Regional Unity and Peace

    At ECOWAS’ 50th Anniversary, Amb. Yusuf Tuggar calls for Regional Unity and Peace

    Amnesty International’s Report: A Fictional Drama Masquerading as Human Rights Work

    Amnesty International’s Report: A Fictional Drama Masquerading as Human Rights Work

    Wale Edun Leads Call for Customs Reform to Unlock Regional Trade Potential

    Wale Edun Explains: “Borrowing is expected to Fund Strategic Projects, Not Inflate Debt Burden”

    Wale Edun Rallies Private Sector to Deliver ₦1.5 Trillion Highway Investments

    ICIEC Endorses Nigeria’s Infrastructure Drive, Commits to Enhanced Private Sector Participation

    Investor Confidence in Nigeria Deepens as Renaissance Capital Visits Finance Minister

    Wale Edun and Nigeria’s Economic Turnaround: A Case for Renewed Confidence

    How the Borno Governor, Prof. Babagana Zulum, Got It Wrong on Insecurity

    How the Borno Governor, Prof. Babagana Zulum, Got It Wrong on Insecurity

  • Politics
  • Business
  • Sports
  • Entertainment
    • All
    • Gaming

    Timipre Sylva Inaugurates the National Gas Expansion Programme, Committee

  • Tech
    NASENI Excited Over President Tinubu’s “Nigeria First Policy”

    NASENI, PICTT Restate Commitment to Promote Female Engineering with Launch of DELT-Her 2.0

    NASENI Champions the Made-in-Nigeria Products Drive in Kebbi State

    MTN and Globacom Avoid Disconnection as Debt Dispute Resolved

    MTN and Globacom Avoid Disconnection as Debt Dispute Resolved

    Kwik Launches On-Demand E-Commerce Fulfillment Service In Nigeria With KwikShelf

    Kwik Launches On-Demand E-Commerce Fulfillment Service In Nigeria With KwikShelf

    DG NITDA Urges Computer Sciences Students to Drive ICT Innovation

    How To Apply For Bridge To MassChallenge Nigeria 2021

    How To Apply For Bridge To MassChallenge Nigeria 2021

    Trending Tags

  • Lifestyle
    • All
    • Culture
    • Food
    • Health
    Diary of a Naija Girl’s Ifedayo Agoro & Frank Itom Are Engaged!

    Diary of a Naija Girl’s Ifedayo Agoro & Frank Itom Are Engaged!

    At Avalanche Book Launch, Nigerians Call For More Resources On Mental Health And Trauma Management

    At Avalanche Book Launch, Nigerians Call For More Resources On Mental Health And Trauma Management

    Femi Odekunle; The Pains That Won’t Go! By Haruspice

    Femi Odekunle; The Pains That Won’t Go! By Haruspice

    The Unifying Factor of Culture

    Examining Arts as a Unifying Elements

    The Unifying Factor of Culture

    The Unifying Factor of Culture

    Senate President Greets Asiwaju Bola Tinubu @69

    Senate President Greets Asiwaju Bola Tinubu @69

    Trending Tags

  • Opinion
No Result
View All Result
Daily Concord News
No Result
View All Result
Home News local

SEIZED $57M JET: PDP Should Hide its Head in Shame – BMO

Tunde Abiola by Tunde Abiola
June 9, 2020
in local, News
0
0
SHARES
14
VIEWS
Share on FacebookShare on Twitter

The successful seizure of a luxury private jet purchased from the proceeds of the $1.3b OPL 245 Malabu oil scandal is a confirmation of the rapacious era of the Peoples Democratic Party (PDP).

The Buhari Media  Organisation says any group or individual that has any shred of self-worth, and who is, or was, involved in that kind of sleaze should hide his or her head in shame.

In a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, BMO said that the deal, which was facilitated in 2011 by the Jonathan administration, is the subject of a corruption trial in Italy involving the Abacha era petroleum resources minister, Dan Etete and two international oil companies, Shell and ENI.

“We see it as confirmation of the unbridled theft that characterized the PDP years, or how else could anyone describe a situation where $1.3bn was paid for an oil block which is believed to have 560 million barrels of oil, but over a billion dollars was shared as bribes and kickbacks to top government officials and their cronies?

“The $57m jet is part of the spending spree Etete was alleged to have embarked on almost as soon as he received $336m from a combined $1.3b paid by Shell and Eni for the lucrative oil block he awarded to Malabu Oil and Gas, a company he secretly controlled, in the last weeks of the Abacha regime in 1998.

“What the world saw but which many Nigerians don’t know from the ongoing court session in Italy is how investigators who had access to hacked mails, secret memos and wiretapped phone conversations found out that a large chunk of the $1.3bn payment was shared as bribes and kickbacks.

“We invite Nigerians to know that the groundwork on how one of Nigeria’s most lucrative oil blocks was literally stolen was done by Nigeria’s Economic and Financial Crimes Commission (EFCC) since the Obasanjo years, but it was stalled.

“Equally baffling is how government officials under another PDP administration took it to another level by facilitating a questionable deal between Etete and the two oil giants which short-changed Nigeria.

“It was so bad that the international media reported in 2019 that ‘the amount allegedly meted out as bribes amounted to more than the entire 2018 healthcare budget of Nigeria where 87 million people live in extreme poverty’.

“We also want Nigerians to know that the deal which the Buhari administration is now seeking to reverse, was, according to ‘Global witness’, to deprive the country of $6bn in future revenue compared to standard Nigerian terms.

“So if there is any evidence of PDP era irresponsible act in government, this is it,” the group added.

BMO noted that the deal is so bad that it is the basis of one of the most important corporate fraud cases in Africa’s history.

“Aside from the Italian court case, the Dutch authorities have prepared charges against Shell, ENI and their executives. There are indications that Britain is also likely to follow suit because of the substantial British shareholding in Shell.

“EFCC has begun the prosecution of former Attorney General Mohammed Adoke who is accused of collecting N300m to facilitate the controversial deal, and Aliyu Abubakar who is said to have shared the kickback to officials of the PDP-led government, while the country is also suing US bank, JP Morgan, in London for negligence in transferring $801m of public funds to Malabu.

“We agree with the consortium of global anti-corruption groups comprising Corner House and Global Witness in the UK, HEDA Resource Centre in Nigeria and Re: Common in Italy which have spent years investigating OPL245 that the seizure of Etete’s jet is a welcome development”.

BMO also assured Nigerians that the President Muhammadu Buhari administration will continue to raise the stake in its efforts to recover stolen public funds. 

Tags: BMOBuhariMalabu oil scandalPDP
Previous Post

Buhari Breaks All Records in Road Repair Refunds to States – BMO

Next Post

Fighting Unconventional Enemies Conventionally is not a Piece of Cake by Ayo Akanji

Tunde Abiola

Tunde Abiola

Next Post

Fighting Unconventional Enemies Conventionally is not a Piece of Cake by Ayo Akanji

  • Trending
  • Comments
  • Latest

NIN-SIM Linkage: A Kidnappers’ Bogeyman On The Roll?

April 5, 2024 - Updated on February 9, 2025

How Atiku’s Lawyer’s Travelled To Cambridge To Confirm Buhari’s Certificate – And The Disappointment That Followed

September 6, 2019 - Updated on February 9, 2025

Vanguard Apologizes To Professor Osinbajo Over Fake News, Retracts Story

September 25, 2019 - Updated on February 9, 2025

I Will Waive my Constitutional Immunity to Clear my Name – Osinbajo

September 25, 2019 - Updated on February 9, 2025
Nigeria

Lest We Forget: Security Issues in Nigeria from 1999 to Date!

0
ISHA SESAY: A GOOD BOOK ON CHIBOK, HAMPERED BY MISREPRESENTATIONS

ISHA SESAY: A GOOD BOOK ON CHIBOK, HAMPERED BY MISREPRESENTATIONS

0
Ministerial list: Nigerians react to Buhari’s nomination of Akpabio, Keyamo, Saraki, others

Ministerial list: Nigerians react to Buhari’s nomination of Akpabio, Keyamo, Saraki, others

0
Channels TV Reporter Precious Owolabi Shot During Shiite, Police Clash Is Dead

Channels TV Reporter Precious Owolabi Shot During Shiite, Police Clash Is Dead

0
NAVY @69: Matawalle Hails Nigerian Navy’s Strategic Readiness At Ceremonial Sunset Dinner

NAVY @69: Matawalle Hails Nigerian Navy’s Strategic Readiness At Ceremonial Sunset Dinner

June 5, 2025
Insecurity: Tinubu, Matawalle should be commended for reinvigorating Navy — Saka

Insecurity: Tinubu, Matawalle should be commended for reinvigorating Navy — Saka

June 4, 2025

Two Years Of Nigeria’s Foreign Policy Under The Administration of President Bola Ahmed Tinubu: An Informed Commentary

June 3, 2025
Why I Share in Wale Edun’s Optimism On The Nigerian Economy

Moody’s Upgrades Nigeria’s Credit Rating Amid Reform Gains, Investor Confidence Grows

June 2, 2025

Recent News

NAVY @69: Matawalle Hails Nigerian Navy’s Strategic Readiness At Ceremonial Sunset Dinner

NAVY @69: Matawalle Hails Nigerian Navy’s Strategic Readiness At Ceremonial Sunset Dinner

June 5, 2025
Insecurity: Tinubu, Matawalle should be commended for reinvigorating Navy — Saka

Insecurity: Tinubu, Matawalle should be commended for reinvigorating Navy — Saka

June 4, 2025

Two Years Of Nigeria’s Foreign Policy Under The Administration of President Bola Ahmed Tinubu: An Informed Commentary

June 3, 2025
Why I Share in Wale Edun’s Optimism On The Nigerian Economy

Moody’s Upgrades Nigeria’s Credit Rating Amid Reform Gains, Investor Confidence Grows

June 2, 2025
Daily Concord News

Bringing the most intriguing News from around the world you everyone in a positive way

Follow Us

Browse by Category

  • Africa
  • Basketball
  • Business
  • Culture
  • Economy
  • Education
  • Food
  • Football
  • Foreign Affairs
  • Gaming
  • Health
  • Health
  • Interviews
  • Lifestyle
  • local
  • News
  • Nigeria
  • Opinion
  • Politics
  • Science
  • Security
  • Sports
  • Tech
  • Uncategorized
  • World

Recent News

NAVY @69: Matawalle Hails Nigerian Navy’s Strategic Readiness At Ceremonial Sunset Dinner

NAVY @69: Matawalle Hails Nigerian Navy’s Strategic Readiness At Ceremonial Sunset Dinner

June 5, 2025
Insecurity: Tinubu, Matawalle should be commended for reinvigorating Navy — Saka

Insecurity: Tinubu, Matawalle should be commended for reinvigorating Navy — Saka

June 4, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 Daily Concord News - All Rights Reserved.

No Result
View All Result

© 2025 Daily Concord News - All Rights Reserved.