On 16^th December 2016, former oil minister Dan Etete, former Attorney General Mohammed Adoke and businessman Aliyu Abubakhar were variously charged with fraud and money laundering offences in relation to the OPL 245 deal. All the defendant deny the charges.

On 30 January 2017, former Attorney General Mohammed Adoke and businessman Aliyu Abubakar were charged with additional money laundering offenses. Both defendants deny the charges.

On 28 February 2017, Shell and Eni’s Nigerian subsidiaries – Shell Nigeria Exploration Production Company Ltd (SNEPCO) Nigeria Agip Exploration Limited (NAE) – together with Eni Spa, AGIP’s director Robert Casula, former Attorney General Mohammed Adoke, Dan Etete and others were charged with official corruption.

Documentation related to the intervention in March 2017 by Mohammed Abacha in the matter of an application by the Chairman of the Economic and Financial Crimes Commission for an order of interim attachment of OPL245.

Application by Nigerian NGO HEDA Resources for permission to seek a Writ of Mandamus “directing and or compelling [the Attorney General of the Federation] to revoke the Operating Production Licence (OPL) 245 on grounds that the entire Malabu transaction in relation to the OPL 245 is unconstitutional, illegal and void as it was not legally granted, same having been obtained fraudulently vide corrupt practices”

In 2012, the Nigerian House of Representatives mandated an Ad Hoc Committee to investigate what the Parliament described as “the shady sale of OPL 245″ to Eni and Shell. The Committee’s 2013 report recommended that the OPL 245 license granted to the two companies be cancelled.

Damages claim for $875,740,003 against JP Morgan Chase (JPMC) for alleged breach of fiduciary duty and breach of trust in relation to JPMC’s handling of the Escrow Accounts that were set up to receive funds arising from the OPL 245 deal. The FRN states that the Escrow Accounts were illegal under Nigerian law

Damages claim for $875,740,003 against JP Morgan Chase (JPMC) for alleged breach of fiduciary duty and breach of trust in relation to JPMC’s handling of the Escrow Accounts that were set up to receive funds arising from the OPL 245 deal. The FRN states that the Escrow Accounts were illegal under Nigerian law

JPMC defense argues, inter alia, that JPMC owes no duty of care to the Federal Republic of Nigeria, since its contract was with the Federal Government of Nigeria.

The Court of Appeal dismissed an application by JP Morgan Chase Bank, N.A. to strike out the claim by the Federal Republic of Nigeria (FRN) on the grounds that the bank owed the FRN no Quincecare” duty of care because clauses in the depository agreement for the FRN’s account excluded such a duty. The Appeal Court did not rule on the merits of the case but argued that there was “nothing in the terms of the depository agreement which entitles Morgan Chase to bring the proceedings to an end at this stage”.  A summary of the judgment is available at this link. 

Energy Venture Partners Ltd (EVP), a company belonging to Emeka Obi, sought payment from Malabu Oil and Gas Ltd for services as an intermediary in the OPL 245 deal. The judge, Lady Justice Gloster, ruled in EVP’s favour, awarding EVP $110.5 million. Gloster’s judgment sets out the chronology of the OPL 245 deal in considerable detail and found “as a fact that, from its incorporation and at all material times, Chief Etete had a substantial beneficial interest in Malabu”.

Judgment of Hon. Bernard J. Fried, rejecting an application of 14 July 2011 by International Legal Consulting for an order to secure $65.5 million from Malabu from monies said to be held by JPMorgan Chase in New York as payment for an unpaid “success fee” allegedly due to ILC for its work as an intermediary for Malabu Oil and Gas in its negotiations over the OPL 245 deal. The Judge describes the Federal Government of Nigeria’s role in the deal as that of “the proverbial ‘straw man’”, who was “holding $1.1 billion for ultimate payment to Malabu”.

In his affidavits, Ednan Agaev, described as a representative of International Legal Consulting, sets out a chronology of the OPL 245 deal. Exhibits attached to the affidavit include copies of the Resolution Agreements, variously signed between Shell, Eni, the Federal Government of Nigeria and Malabu, that underlay the deal.

The full docket of filings from the International Legal Consulting vs Malabu Oil and Gas Limited and JPMorgan Chase &Co case is available from https://iapps.courts.state.ny.us/webcivil/FCASSearch?param=I. Enter index number: 651773/2011 in the first box and then click on the “Find cases” tab.

During the period that the OPL 245 deal was negotiated and sealed, both Shell and Eni were subject to Deferred Prosecution Agreements with the US Department of Justice, under which they represented that they had implemented (or would) implement programmes and procedures designed to prevent and detect corruption.