Italian prosecutors seek 10-year prison term for Etete over Malabu oil scam 

Italian prosecutors are demanding a 10-year prison term for Nigeria’s former Minister of Petroleum Resources, Dan Etete, over his alleged involvement in the long-running Malabu oil scandal.

They are also looking to recover $1.1 billion from the flamboyant ex-minister who had been declared wanted by the Economic and Financial Crimes Commission (EFCC) over the OPL 245 scam.

The prosecutors said late Tuesday they are demanding an eight-year prison term for the head of oil the Italian company Eni, Claudio Descalzi, after the firm and its United Kingdom counterpart, Shell were implicated in the deal.

Several Nigerian individuals including a former Attorney-General of the Federation and Minister of Justice, Muhammed Bello Adoke, are currently standing trial over their alleged involvement in the massive oil scam.

READ ALSO: EFCC moves to arrest, extradite ex-Minister Etete, others over Malabu Oil scam

Italian investigators suspect the two oil groups used bribes to obtain rights in 2011 to the OPL 245 estimated to hold nine billion barrels of crude, for $1.3 billion (1.1 billion euros).

Out of that sum, almost $1.1 billion was believed to be bribes to a London bank account that ended up going to various Nigerian politicians, including Etete.

The trial of Eni and Shell for corruption opened in the spring of 2018 and two middlemen – a Nigerian and an Italian – were handed four-year prison terms later that year after an accelerated trial.

However, both oil companies had denied any wrongdoing.

Prosecutors also requested an eight-year prison term for Paolo Scaroni, who was chief executive of Eni at the time, and a seven-year term for Malcolm Brinded who was then Shell’s head of exploration and production.

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