Uomo con indumenti ad alta visibilità al computer

Eni was unaware of how Malabu used the funds

Eni was not obliged to be aware, nor was it aware, of the use and the beneficiaries of the funds Malabu had received from the Nigerian Government. IT IS A FALSE CLAIM to state that Eni was aware of Malabu’s illegal activities before the operation.

The truth

The payment of the Nigerian Government to Malabu was part of a settlement agreement between the parties.

Retracing payment flows: the authorisation of the SOCA

  • The payment of the Nigerian Government to Malabu was authorised in advance by the UK’s Serious Organised Crime Agency (SOCA), which was consulted in accordance with the rules of JP Morgan, where the escrow account was opened. At the time, the SOCA was chaired by the future British Prime Minister, Theresa May.
  • The payment of the Nigerian Government to Malabu was part of a settlement agreement between the parties (the Block 245 Malabu Resolution Agreement), entered into in full compliance with the Nigerian legislation governing the sector (particularly the Petroleum Act) and in accordance with the international best practices on the subject.
  • Finally, both attempts to send payments to Malabu using a Swiss account and a Lebanese account were not made by Eni, but by the Nigerian government. 
PDF 1.30 MB