Economy

Trial of Shell, Eni over Nigeria to switch to new Milan court

Trial of Shell, Eni over Nigeria to switch to new Milan court”

An Italian court has postponed the start of a trial of Royal Dutch Shell (LON:RDSA) and Eni executives over alleged corruption in Nigeria, Reuters has reported.

The trial will now begin on May 14.

The court is expected to set the new trial date on Monday, the sources said.

The companies are also facing charges in Nigeria over the case, which concerns Nigeria's OPL-245 - an offshore oilfield estimated to hold 9bn barrels of crude oil - secured by Shell and Eni in 2011.

Prosecutors said bribes were paid to win the licence to explore the field, which has never entered into production.

Nigeria's anti-graft agency, the EFCC, filed corruption charges against Shell and Eni in March 2017, accusing 11 defendants, including Etete, of "official corruption" in connection with the deal.

The agreement allegedly saw Nigeria's former president Goodluck Jonathan and former oil minister Etete pocket bribes, according to corruption watchdog Global Witness.

A Milan judge ruled in December that the companies, along with present and past executives, would face trial.

More news: Yogi Adityanath claims to win elections in Karnataka, Kerala, and other states

He further argued that going ahead with the prosecution of the suspects will portray Nigeria in bad light before the worldwide community and foreign investors, who could see Nigeria as a country that could not be trusted to respect its obligations to global partners.

The case involves the purchase of an offshore oil block in Nigeria for $1.3bn (£1bn) in 2011.

The confusion within the Nigerian government on how to proceed with the scandal reared its head in Italy.

Meanwhile, Human Environmental Development Agenda (HEDA), one of the activist groups that sparked off the trial, has said it was shocked and deeply disturbed by the "confused appearance" of the federal government in court on Monday.

"Eni and Shell closed the deal with the government without the involvement of an intermediary".

"There is now a very real risk that both instructed lawyers will not be recognized by the court, leaving the FRN out in the cold".

Milan prosecutors also have opened an investigation into allegations that Eni legal representatives tried to throw investigators off of the Nigeria case.

The meeting followed a revelation two weeks ago that Mr. Malami had written to President Buhari to prevent Nigeria's anti-fraud police, Economic and financial Crimes Commission from prosecuting a former Attorney General and Minister for Oil Resources, Diezani Allison-Madueke who were named in the bribery scam by Italian investigators and prosecutors in Milan.



Like this

loading...
loading...

Latest


05 March 2018
Six Nations 2018: Tadhg Furlong, Iain Henderson return for Ireland
Ireland's three consecutive wins in the tournament puts them top of the table by five points as they aim for their third title in five years.

05 March 2018
Promises Fulfilled Posts Upset In Fountain Of Youth
Romans is pointing his Fountain of Youth victor to the $1 million Florida Derby (G1) March 31 at Gulfstream Park. It didn't affect his race, I don't believe. "He's an April 27 foal, so he's still learning".

05 March 2018
Jacqueline Fernandez is still smiling
Earlier this week, Bollywood actor Jacqeline Fernandez received backlash after she was clicked smiling at Sridevi's funeral. The actress will also be seen recreating the Race anthem track "Allah Duhai Hai" alongside Salman Khan.

05 March 2018
One killed, 2 injured as lorry rams cops at accident spot
While the police were preparing the mehsar about the accident, a lorry coming from MC Road in high speed plunged into them. The police said the truck and its driver, Suresh of Malampuzha, Palakkad, were taken into custody.

05 March 2018
Ramires confident 'doors always open' at Chelsea
Ramires has scored 16 goals and registered 11 assists in 70 games since joining Fabio Capello's side two years ago. Former Chelsea midfielder Ramires has talked up the chances of him one day returning to Stamford Bridge.

05 March 2018
Vornado Realty Trust (VNO) Holdings Raised by UBS Asset Management Americas Inc
Adelante Capital Management Llc increased Vornado Realty Trust (VNO ) stake by 17.19% reported in 2017Q3 SEC filing. Harbert decreased its stake in Identiv Inc (INVE) by 82.61% based on its latest 2017Q3 regulatory filing with.

05 March 2018
China's 2018 defense spending up 8.1%
The figure, an 8% increase on a year ago , was announced as the annual meeting of parliament got under way in Beijing . Since 2008, its navy has participated in anti-piracy operations off the coast of Somalia and in the Gulf of Aden.

05 March 2018
Academy awards: Allison Janney picks first Oscar for 'I, Tonya'
In a handsome moment, Allison dedicated her win to her late brother Hal who tragically died after he commited suicide in 2011. I gotta give him a good present. "I'm happy to have the people at Mom to keep me going and keep me focused".

05 March 2018
Amazon considers offering a checking account
Earlier this year, Amazon and JPMorgan teamed up with Warren Buffett's Berkshire Hathaway to tackle rising healthcare costs for their United States employees.

05 March 2018
Brighton pile the pressure on Wenger
He said: "When you have just the pants on it's easy to take the pants off as well. Petr Cech was at fault for both of the Brighton goals and he tweeted an apology.