TVC News will premiere an investigative documentary this Sunday evening delving into the $1.3 billion OPL 245 scandal involving Nigeria and JP Morgan Chase Bank—also referred to as “Malabugate”.
According to a press release, the documentary, an in-depth exposé produced by TheCable newspaper and The Cable Foundat, will air at 9pm.
“It authoritatively unravels the full scope of the OPL 245 controversy, one of the most complex and consequential oil scandals in Nigeria’s history,” the management of the newspaper said.
“Through compelling storytelling and original reporting, Malabugate reconstructs the scandal from the ground up, offering viewers an unprecedented narrative into the billion-dollar oil deal that has spanned administrations, borders, and courtrooms.”
The release further stated: “It explores questions like: Why did Obasanjo revoke OPL 245 in 2001? Why did he settle out of court with Malabu in 2006? Why did President Goodluck Jonathan return the oil block to Malabu in 2010? Why did Shell and Eni team up to acquire Malabu’s interest in the oil block for $1.1 billion in 2011?
“The documentary also delves into other questions such as: What was the interest of the Abacha family in OPL 245? What was the interest of Chief Dan Etete, the former minister of petroleum resources under Abacha? Why did President Muhammadu Buhari file criminal charges against the principal actors?
“How did Mohammed Bello Adoke, the former attorney-general of the federation, become the central figure in the court cases? Why did Nigeria lose all the court cases in Italy, the UK and Nigeria?”
According to the statement, the documentary confronts the hard questions that have long demanded answers, tracks the origin and allocation of OPL 245, follows the global money trail, dissects legal documents, and breaks down how some of the world’s biggest oil companies became entangled in a scandal that continues to shape Nigeria’s energy and justice sectors.
Former Attorney General of the Federation (AGF) and Minister of Justice, Mohammed Bello Adoke (SAN) said after the judgement in 2022 that he had once again been vindicated by the ruling of a United Kingdom commercial Court that there was no evidence of fraud in the OPL 245 transaction between Nigeria and JP Morgan Chase Bank.
The Commercial Court of England and Wales had on June 14, 2022 ruled on the matter in Case No CL-2017-000730 as contained in its 137-paged judgement.
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