The order was made on the grounds that the Economic & Financial Crimes Commission (EFCC) had “misrepresented material facts”.
The controversy hinges on whether the two oil companies knew that some $800 million of $1.3 billion transferred into escrow for the Nigerian government would eventually be paid into accounts controlled by former licence holder Malabu Oil & Gas, an entity associated with ex-Petroleum Resources Minister Dan Etete, who served between 1995 and 1998.The
