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Allegation of Missing 48m Barrels of Crude Baseless, Unfounded — Malami

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Staff Admin

By Levinus Nwabughiogu

The Minister of Justice and Attorney-General of the Federation, AGF, Abubakar Malami, SAN, yesterday described as baseless and unfounded allegations that 48 million barrels of crude oil worth $2.4 billion were missing.

It will be recalled that the ad-hoc committee of the House of Representatives investigating the issue had earlier summoned Malami to appear before it to answer to the issues raised against his office and threatened to arrest him, if he failed to show up.

However, appearing before the committee, chaired by Mark Gbillah, yesterday, Malami, who took his time to educate the committee members on the details of the issues, dismissed the allegations.

He recalled that in 2016, speculations became rife about the missing crude, prompting President Muhammadu Buhari to call for his advice on the matter.

Malami, however, said certain facts revealed that there were not enough grounds to substantiate the allegations.

He also disclosed that the Federal Government had arrested some of the whistleblowers, while others  were on the run to faraway Mexico.

He said: “Let me state on record and for the benefit of Nigerians and the committee that the allegations relating to the 48 million barrels are baseless. The allegation is unfounded., it lacks merit and, indeed, substance.

“The allegation in its own right, is devoid of any reasonable ground pointing to a material suspicion cogent enough to invoke the constitutional oversight of the committee.

“Why do I say so? Sometimes in 2016, allegations were rife and hyped in the social media. There were allegations of existence of stolen 48 million barrels of Nigerian crude in China said to have been valued at $2.4 billion.

“President Muhammadu Buhari informally requested the attorney-general, making reference to my humble person, Mele Kyari, Lawal Daura, former DG of DSS, and late Abba Kyari, to look into it and advise.

“But unfortunately, for there to be a reasonable ground for suspicion, at least, you require certain basic facts.

“If you’re talking of a product, you cannot establish the substance relating thereto, without confirming the origin of the purported product in China. If you talk about a product in China, is it of Nigerian origin?

”That can be ascertained by sample and specifications. Is it Bonny Light for example, which you know emanates from Nigeria or what was it? The basic details of the existence of the product connecting it to Nigeria was not there at all.

Justice ministry not involved in asset recovery management

Responding to questions on assets recoveries, Malami absolved his office of any involvement in the management and disbursement of the funds.

He said the Ministry of Budget and National Planning and Office of the Accountant-General of the Federation were to be queried, adding that the monies were lodged in the Central Bank of Nigeria, CBN.

He said: “The office of attorney-general received about three letters from the committee. The first letter received was dated January 12, 2023, and then it was followed up with a letter dated March 22, 2023, which was further followed up with a letter dated April 3, 2023.

Compensation to the recovery agent

The attorney general told the committee that some compensation fee was paid to the recovery agent.

He said: “Let me give you an insight as to the way and manner, compensations relating to the recoveries had been conducted. I will take an example with the case of $322 million recovered from Switzerland.

”A recovery agent approached the office of attorney general for the purpose of recovery. An agreement was eventually drafted and signed spelling the terms on the basis of which the recovery will be made.

”Generally speaking, ever since the coming of this government, no recovery has exceeded five per cent professional fees for the services. And the fee is contingent on the recovery. No kobo is advanced by the Federal Government or the office of the attorney general for the recovery purposes.

“So, if you are engaged formally, engagement documents are signed and you are now supported to go ahead and make recoveries.

”Where recoveries are eventually effected, lodgments are made into the asset recovery of the Federal Government that exists at the Central Bank opened by the Office of the Accountant-General of the Federation at the request of the Office of Attorney-General because if we are making recoveries, we have to know where and when these monies recovered are to be lodged.”

Adjourning the session,  Ibrahim Isiaka who presided on behalf of the chairman of the committee said the panel will re-invite Malami at a date yet to be fixed by next week, assuring they will take time to digest the documents so far submitted.

Source: Vanguard

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