I was never involved in the sale of Malabu Oil Block (OPL245) – Segun Aganga
A former Minister of Finance, Mr. Olusegun Aganga on Thursday said he was never involved in the auctioning of Malabu Oil Block (OPL 245) during the administration of ex-President Goodluck Jonathan.
He said no time was he or the Ministry involved in any negotiations, scheme or discussions with anyone on Malabu.
He said the Malabu transaction actually took place in August 2011 when Olusegun Aganga was already the Minister of Industry, Trade and Investment.
Aganga made the clarifications in a statement through his Media Adviser, Yemi Kolapo, against the backdrop of the implication of many former government officials, a businessman and officials of Shell and Eni in the oil block deal.
The OPL245 is an offshore oil block with about nine billion barrels of crude.
It was auctioned for $1.3 billion (1.1 billion euros).
Although the Nigerian government received only $210 million as Signature Bonus, about $1.092 billion was traced to a London bank account which was suspected to be slush funds allegedly used to bribe some middle men and politicians in the country.
A former President (names withheld) was accused of benefiting about $200 million as proceeds from the Malabu oil deal.
About $523million out of the $1.092billion paid for the block was shared out as bribes to some former ministers and politicians.
But in the statement, Aganga said he had nothing to do with the oil deal.
The statement said: “The attention of the Office of the former Minister of Finance, and former Minister of Industry, Trade and Investment, Olusegun Aganga, has been drawn to an article, which claimed that Olusegun Aganga, and two other Ministers were ‘involved in a scheme that resulted in the transfer of interest in Malabu (OML 245).’ This claim is totally false and completely misleading.
“Olusegun Aganga was the Minister of Industry, Trade and Investment from July 2011 to May 2015 and at no time was he or the Ministry involved in any negotiations, scheme or discussions with anyone on Malabu. It is simply out of the remit of the Ministry.
“Olusegun Aganga was also the Minister of Finance from April 2010 to May 2011. Again, at no time was he or the Ministry of Finance involved in any negotiations, valuation of the oil well or in the determination of the signature bonus or any other payment on Malabu.”
The statement explained that in the normal course of the work of the Ministry of Finance, the ministry is required to approve the opening of bank accounts by any Government Ministry or Agency.
The statement added: “Such requests are approved, based on the advice of the Accountant General of the Federation. There are laid down procedures for this approval process.
“Based on the information made available to the public, the Malabu transaction actually took place in August 2011 when Olusegun Aganga was already the Minister of Industry, Trade and Investment.
“It would have been impossible for him to be involved in any negotiations or scheme or in advising the President on a matter, which completely falls outside the remit of the Ministry.”
