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FG Silent as the World Probes Illegal Sale of OPL 245

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Mrs Dieziani Alison-Madueke, petroleum resourses minister
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Nigerian government has curiously refused to revisit the now tainted sale of one of the country’s largest offshore oil concessions known as OPL 245 to subsidiaries of oil multinationals, Royal Dutch Shell and ENI, despite ongoing probes in the United Kingdom and Italy, according to the Leadership Newspaper.

Oil Prospecting Licence (OPL) 245 is a massive (1,958 square kilometre) and potentially highly lucrative oil block in Nigeria.

It encompasses two deepwater fields, Zabazaba and Etan, at depths of between 1,500 and 2,000 metres respectively in the offshore waters in the Gulf of Guinea.

The field is estimated to hold up to 9.23 billion barrels of crude oil, equivalent to nearly one quarter of Nigeria’s total proven reserves, according to industry figures.

According to the Leadership, proceeds from the oil well is said to be capable of servicing the country’s debt for the next 30 years.

Police in the UK and magistrates in Italy are now formally investigating the OPL 245 sale, following allegations of bribery and round tripping of sale proceeds that has trailed the deal.

London-based anti-corruption campaign group, Global Witness, has been at the forefront of an international campaign to expose the illegal dealings surrounding the OPL 245 and have sought to bring parties connected to the contentious sale and bribes to book.

Compared to the copious attention given to the OPL 245 deal by the international community, there is perceptible government aloofness from the now tainted deal in the country.

The Leadership reported that during the regime of late military dictator, Sani Abacha, the OPL 245 concession was originally awarded in 1998 by the then Nigerian oil minister, Dan Etete, to Malabu Oil and Gas, a company that he set up and owns . In effect, Etete awarded one of Nigeria’s most lucrative oil blocks to himself.

The deal effectively converted into money, an asset that had been acquired by Malabu Oil and Gas in highly suspicious, possibly illegal, circumstances.

In 2011, Shell and ENI paid $1.1 billion, plus a signature bonus of $210 million, to the Nigerian government for the concession. In a back-to-back deal negotiated by the country’s attorney-general of the federation and minister of Justice, Mr. Mohammed Adoke (SAN), the Nigerian government then undertook to transfer $1.1 billion to Etete’s company, Malabu.

Shell and ENI deny paying any money to Malabu Oil and Gas but they were aware and in agreement that the deal was for the benefit of Malabu.

Etete, who was convicted for money laundering in France, claimed in a British court in 2013 that people close to former president, Chief Olusegun Obasanjo, demanded a slice of the oil block as bribe.

In February, the Nigerian House of Representatives called for the outright cancellation of the award of OPL 245 to all contesting parties. But, as it is with several legislative resolutions in the country, the executive ignored it.

Infact, some of those who facilitated the deal and are believed to have received parts of the bribe still work for the present administration.

Federal lawmakers directed the Economic and Financial Crimes Commission (EFCC) to prosecute all individuals and financial institutions linked with and found culpable of receiving and transferring unlawfully with respect to the OPL 245 deal.

The recommendations were contained in the report of the Hon. Leo Ogor-led House Ad-hoc committee that investigated the OPL 245 deal.

Going further, the report directed the Nigerian Police to take over the ongoing investigation of the matter of forgery and alteration of documents indicting some directors of Malabu Oil and Gas Ltd who resigned their positions or transferred their appointment or shares without authorisation and initiate prosecution of any indicted person.

October 29, 2014, a high court in the United Kingdom lifted a secrecy order imposed on a 2013 legal challenge by a UK-based, environmental and social justice, not-for-profit organisation, The Corner House, of a decision by the Crown Prosecution Service (CPS) not to freeze some $215 million in alleged proceeds of crime from the OPL 245 sale.

In 2011, a middleman acting for Malabu sued the company in the United Kingdom commercial court for fees he claimed he was owed for services rendered to Malabu in the sale of OPL 245. Pending the outcome of the case, the court froze some $215 million from the proceeds of the oil concession sale.

The Corner House, together with anti-corruption watchdog, Global Witness and Re:Common, an Italian Non Government Organisation, and Dotun Oloko, a Nigerian anti-corruption campaigner, wrote to this court raising concerns that the frozen funds were proceeds of crime. The group also requested the London Metropolitan Police’s Proceeds of Corruption Unit (POCU) and the Italian authorities to investigate.

Although the police sought action under the Proceeds of Crime Act, the Crown Prosecution Service (CPS) declined to initiate proceedings. The Corner House therefore sought a judicial review of the CPS’s decision, arguing that the OPL 245 deal was corrupt and illegal under both Nigerian and UK law and that it was likely, on the available evidence, that a substantial part of the monies paid to Malabu had been used to pay bribes and the CPS’s failure to act was unlawful.

The application for permission to bring a judicial review of the CPS failure to act was held in secret, at the request of the CPS, because of the danger of “tipping off” those being investigated by the police.

In March 2014, the high court refused permission to bring a judicial review because the CPS had assured the court that it was still considering taking action. In July 2014, however, following the commercial court ruling in favour of the middleman, more than $110 million of the suspect funds left the UK for Switzerland.

The CPS did nothing to prevent the movement of this money. By contrast, at the request of the Italian authorities, the funds were frozen in Switzerland. Only following a mutual legal assistance request from Italy did the UK authorities freeze a further $80 million of the funds remaining in the UK.

Nicholas Hildyard of The Corner House says: “The CPS had ample opportunity to restrain the funds. It was invited, requested and challenged to do so but failed to act. The money was restrained only because of the actions of the Italian authorities. If Italy was able to get the funds frozen, what stopped the UK in the first place?”

Key figures in Italian oil multinational ENI are now under formal investigation by magistrates in Milan for alleged corruption relating to the OPL 245 deal. The corporation’s new CEO, Claudio Descalzi; his predecessor Paolo Scaroni; and its chief development, operations and technology officer, Roberto Casula, have all been named as suspects in the bribery investigation. Eni’s shares fell, wiping $1.4bn off the company’s share value on the day.

Italian prosecutors allege that $533m of the OPL 245 payment made by Shell and Eni was paid in bribes. British prosecutors acting on the request have already frozen two accounts with combined sum of N29.5 billion ($190 million) belonging to the chief intermediary, Emeka Obi, Premium Times reported.

According to a letter seeking the help of UK’s Crown Prosecution Service (CPS) to freeze the assets of those involved, Italian prosecutors said some of the N83 billion ($533 million) slush money was used to buy private jets and armoured vehicles.

“We are investigating many money transfers to many people in various countries who received sums that vary from millions of dollars to thousands of dollars,” Reuters claimed the letter reads.

Jamie Beagent of law firm, Leigh Day, who acted for Corner House in the judicial review proceedings, said: “We are obviously pleased that the funds have finally been frozen and that an investigation is now taking place into this murky affair. It is only a shame that the UK authorities ducked their responsibilities in this regard and that it was left to the Italian authorities to pursue this matter with the appropriate rigour.”

The Corner House, Global Witness and Re:Common are writing to the chair of the UK parliament’s Public Accounts Committee (PAC), Margaret Hodge MP, informing the committee of their concerns and requesting that the committee considers undertaking an inquiry into whether or not the existing UK legislation on restraining proceeds of crime is fit for purpose. The PAC released in March 2014, a highly critical report on confiscation orders, highlighting the CPS failure to recover assets deemed proceeds of crime.

A Home Office assessment of current legislation, undertaken by Michael Beloff QC, is widely understood to be critical of it but has refused to release Beloff’s report to The Corner House.


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Appeal Court Nullifies Registration of ‘KPMG Professional Services’

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The court of appeal in Lagos has asked the Corporate Affairs Commission (CAC) to revoke the certificate of registration of “KPMG Professional Services”.

Appeal Court Nullifies Registration of ‘KPMG Professional Services'

In a unanimous decision delivered on Thursday, the appellant court granted the reliefs sought by KPMG Nigeria against CAC and KPMG Professional Services.

The judgment was read by Abdullahi Mahmud Bayero, the judge.

The two other judges are Abimbola Obaseki-Adejumo and A.M. Talba.

In 2002, KPMG Professional Services was registered as a company with CAC despite the existence of KPMG Nigeria, comprising its audit, tax, and consulting arms.

The KPMG Nigeria has long been registered in Nigeria before 2002.

KPMG Audit was registered in 1969, KPMG Tax Consultants in 1990, and KPMG Consulting in 1969.

Displeased with the registration of KPMG Professional Services, KPMG Nigeria approached the federal high court.

The consulting firm had argued that the name “KPMG Professional Services” was deceptively similar to its long-established identity.

In 2005, the lower court dismissed KPMG Nigeria’s case, citing an alleged merger between KPMG Nigeria and Akintola Williams Deloitte as reason the company could no longer assert rights to the name.

The lower upheld the second respondent’s (KPMG Professional Services) counterclaim and ordered that KPMG Nigeria’s name be struck off the CAC register.

The lower court had premised its decision on newspaper articles stating that KPMG Nigeria reportedly merged with Akintola Williams Deloitte.

Delivering the judgment, Bayero ruled that the lower court erred by relying on newspaper articles to ascertain that KPMG Nigeria allegedly merged with another company.

The judge said the documents showing the alleged merger were not presented before the lower court, and the form of the alleged merger could not have been known.

“In any event, the only branch of KPMG, if any, that entered into a merger with Akintola Williams as stated in the newspaper articles 18, is KPMG Audit,” the judge ruled.

“The other spheres were totally unaffected. It would therefore be wrong to state that the merger (which has not been shown to this Court) of KPMG Audit with Akintola Williams means all the other areas of business, including KPMG Consulting and KPMG Tax Consultants, also ceased to exist.

“Even if the Appellants (KPMG Nigeria) had ceased to do business as the Court seemed to have held, the 2nd Respondents (KPMG Professional Services) should not have been carrying on business until the Appellant’s certificate of registration is withdrawn or set aside.

“They cannot use the name until the Appellant’s certification of registration is withdrawn or set aside. They cannot use the name until the name is removed from the 1st Respondent’s (CAC) Register of Names.

“The 1st Respondents can only assign the name to the 2nd Respondents after first taking it away from the Appellants.”

The court ruled that CAC erred by registering KPMG Professional Services despite the existence of a business name, which is already registered.

The judge reversed the earlier ruling of the lower court and reaffirmed the primacy of statutory protection for existing business names under Nigerian corporate law.

 

 

 


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Air Peace Launches Abuja–London Heathrow, Gatwick flights October 26

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Air Peace has announced the launch of direct flights from Abuja to London Heathrow and Gatwick airports, with operations scheduled to begin on October 26, 2025.

The airline said in a statement on Sunday that round-trip fares for the Abuja–London service will start from N1m, making it the first Nigerian carrier to offer direct connections from the capital to both of London’s major international airports. This was contained in a press release issued on Sunday by the airline’s spokesperson, Efe Osifo-Whiskey.

“Direct international flight services from Abuja to both London Heathrow and London Gatwick Airports, effective October 26, 2025.

“Air Peace becomes the first Nigerian carrier to offer direct services from Abuja to both of London’s major international airports, further solidifying its role as a leader in regional and intercontinental aviation.

“Travellers originating from any of Air Peace’s domestic destinations across Nigeria can now book through fares via Abuja to either Heathrow or Gatwick using a single ticket, eliminating the need for multiple bookings or baggage re-checks,” the statement read.

Similarly, the new route opens convenient access for inbound passengers from the UK to cities across Nigeria.

“Travellers from London can access multiple destinations across Nigeria using a single Air Peace ticket through Abuja every morning. These destinations are Lagos, Port Harcourt, Enugu, Benin, Warri, Owerri, Kano, Yola, Gombe and Asaba, for now. Other destinations will be added later,” Osifo-Whiskey stated.

Air Peace is also offering what it describes as unprecedented value in pricing and service.

Osifo-Whiskey said, “It provides a distinct competitive advantage, enabling passengers to travel between Nigeria and the United Kingdom with greater ease, efficiency, and value, due to the possibility of choosing multiple cities entry and exit points.

“Has the cheapest fares ever, starting from only 1 Million Naira round trip. Huge baggage allowance.”

The Abuja–London launch comes months after the airline began Lagos–London Heathrow flights, which started earlier in 2024.


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Prateek Suri CEO Maser Meets Zambia’s Education Minister to Propel Student Housing and Education Projects

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Prateek Suri, CEO of MASER and recognized as the richest Indian entrepreneur in Africa, was welcomed this week by Zambia’s Education Minister, Hon. Douglas Munsaka Syakalima, for a high-level meeting in Lusaka that focused on student housing and broader education infrastructure initiatives.

The meeting, held at the Ministry of Education’s offices, opened with warm greetings and a presentation by Mr Suri detailing Maser’s plans to support Zambia’s rapidly scaling education sector. Suri, who led Maser to become Africa’s seventh unicorn, emphasized the company’s commitment to infrastructure that benefits students, educators, and communities across the continent.

Minister Syakalima underscored the urgency of addressing Zambia’s student accommodation gap, citing the country’s expanding net enrollment and the need for safe, affordable housing for tertiary students. Under his leadership, the Government has embarked on a bold infrastructure agenda: over 82 secondary schools already completed, 46 set to be finished in 2025, and 120 new institutions under construction, alongside 169 ECE hubs and 145 satellite centers to reach underserved areas.

During the meeting, Suri shared Maser’s vision for modern student housing built through public–private partnership models. He outlined a multi‑phase plan utilizing sustainable building design, digital infrastructure, and vocational training facilities integrated into these campuses. “Zambia’s youth deserve world-class learning environments,” Suri remarked. “Maser is prepared to leverage its experience to co-create impactful educational infrastructure.”

Minister Syakalima responded positively, stating, “We welcome the opportunity to collaborate with Maser. The CEO’s entrepreneurial success and the company’s commitment to Africa’s education development are exactly the kind of partnership we need to scale our infrastructure goals.”

Beyond housing, the dialogue extended to opportunities in blended learning, vocational skills, rural outreach, and digital inclusion. With Zambia implementing its forward‑looking 2023 Education Curriculum this year—including early childhood, primary, and Form 1 levels—the minister highlighted the need for supporting infrastructure at all levels to enable effective rollout.

Under Minister Syakalima’s tenure, the education sector has seen notable progress: 4,200 new teachers hired recently, bringing the total teacher workforce to over 40,000 in three years; strengthened focus on foundational learning via teacher training programmes like the “Catch Up Programme”; and ambitious expansion of school infrastructure across Zambia’s provinces.

Maser, co‑founded by Prateek Suri, transformed from an African startup in consumer electeonics and large infrastructure projects into a multi‑sector unicorn operating in real estate, renewable energy, mining and education technology. Its rapid rise and African focus have made Suri a leading figure in bolstering India–Africa economic relations.

As the richest Indian in Africa, Prateek Suri’s influence spans beyond business success—it represents growing bilateral investment aimed at credible, sustainable societal impact. His partnership with Zambia’s Ministry of Education signals a new era of cross-border collaboration in education infrastructure.

With both parties committing to inclusive planning and scalable implementation, the Maser‑Zambia dialogue could mark the beginning of transformative initiatives: from affordable student housing to cutting‑edge learning facilities, vocational training hubs, and digital classrooms.

In closing remarks on the significance of this dialogue, Suri stated, “Education infrastructure is the foundation for future growth. Our partnership with Minister Syakalima and the Government of Zambia is a testament to collective investment in youth, equity, and sustainable development.” Minister Syakalima echoed this optimism, saying that with strategic public–private investment, Zambia’s education sector is poised for a significant elevation.

This meeting lays the groundwork for collaboration that bridges government strategy and corporate innovation—ultimately aiming to empower Zambia’s students and accelerate national development.


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