By Erewunmi Peace

A fresh wave of controversy has hit Nigeria’s oil sector as new revelations revive the long-standing $1.3 billion OPL 245 oil block saga — a case that has haunted multiple administrations, triggered international lawsuits, and cast shadows over top government officials.

The Heart of the Scandal: OPL 245

The story dates back to 2011 when oil giants Shell and Eni secured rights to Nigeria’s lucrative OPL 245 oil block for $1.3 billion. Investigations later revealed that a large chunk of the payment allegedly ended up in private accounts linked to former petroleum minister Dan Etete, through a company known as Malabu Oil & Gas.

Though the deal was approved during the Goodluck Jonathan administration, international pressure grew on successive governments to recover the funds — including the administration of former President Muhammadu Buhari.

Buhari, Osinbajo, and Malami’s Involvement

While recent reports have resurfaced online suggesting that Buhari, Vice President Yemi Osinbajo, and former Attorney General Abubakar Malami were “indicted”, no official legal proceedings have directly implicated or convicted them in the deal.

Rather, these officials were involved in efforts to either recover the funds or resolve legal battles tied to the controversial license. Nigeria’s legal team pursued lawsuits in Italy, the UK, and the US. Most were eventually dismissed due to insufficient evidence or legal technicalities.

What’s Happening Now?

President Bola Ahmed Tinubu’s administration is reportedly looking to settle the lingering disputes tied to OPL 245, amid pressure to improve investor confidence in the oil sector.

This comes as Shell also faces hurdles over a separate $1.3 billion sale of its onshore oil assets, which the Nigerian government recently blocked due to environmental and financial concerns.

Online Misinformation Alert

It’s important to clarify that no Nigerian court or international tribunal has indicted Buhari, Osinbajo, or Malami. While their roles have come under public scrutiny, using the term indict without evidence is misleading and inflammatory.

What This Means for Nigerians

The OPL 245 case highlights Nigeria’s ongoing battle with corruption, transparency, and justice in its most lucrative industry. As investigations continue, Nigerians await accountability — not just through headlines, but in the courtroom.