In view of the of the controversies surrounding the sale of the $1,616,690,656.78 valued Malabu oil block belonging to Nigeria Agip Exploration Limited (Eni), the companys Board of Statutory Auditors and Watch Structure commissioned an independent forensic investigation to be carried out in respect of all transactions relating to the sale in order to clear all controversies arising in respect thereof. The said investigations were conducted by an independent US law firm.
Further to the above, Eni released the outcome of the independent investigation on Wednesday, 1st of March, 2017 which reveals that all transactions relating to the sale of the oil block were not fraudulent as no evidence of corrupt or illicit conduct in relation to the transaction was found. It may be assumed that the said report would be adduced as evidence in the ongoing suit filed by the Federal Government against Eni & Ors in respect of the alleged mismanagement of $1,616,690,656.78 of the funds accruing from the sale of the oil block.
