How Etete Defrauded Me, By Abacha's Son

The eldest son of the former military Head of State, Late Gen. Mohammed Sani Abacha at the weekend cried before the House of Representatives, telling them how the former Minister of Petroleum Resources, Dan Etete allegedly defrauded him and Pecos Energy Limited

Abacha, who testified before the House adhoc committee, chaired by Hon. Leo Ogor, which is investigating the Malabu oil case informed the lawmakers that he owned 50 percent shares of Malabu, and that Pecos Energy owned 20 percent while Etete had 30 percent. 

However, he alleged that the former oil minister connived with some officials of the Corporate Affairs Commission (CAC) to alter the shares of Malabu and they ended up allegedly giving Etete 100 percent ownership of the company.

The Registrar General of CAC, Bello Mustapha, also admitted before the lawmakers that the original file of Malabu which was registered on 24th April, 1998 with N20 million share capital ‘got missing in the commission and a temporary file was opened in May 2000’.

According to him, “In a fraudulent attempt to put himself forwarded as sole owner of equity of Malabu, the nominee Mr. Dan Etete in June 2010 forged some share transfer documents which they filed at the CAC purporting to show that Mr. Munamuna and Amaran now own 10 million shares each.”

Abacha appealed to the committee to nullify the surrender of OPL 245 to Federal government, and recover the sum of $1.3 billion paid and to distribute it equitably to the rightful owners of Malabu.

Source: Compass