Two European Countries Sets To Return $200m Malabu Oil Deal Back To Federal Government – AGF
We Raised Nigeria’s Stamp Duty Collection To 66m In Six Month
The Attorney-general of the federation, Abubakar Malami has rolled out the achievement of the ministry under his watch for the past one year.
Speaking during an open capacity building workshop and interactive session with judiciary correspondents in Abuja on Tuesday, the Country’s Minister of Justice said the ministry facilitated the recovery of $62bn arrears from oil companies as part of the Federation Government’s Production Sharing Agreement.
He also said that Nigeria is awaiting the return of $200m from the Netherlands and Switzerland from the Oil Prospecting Licence 245 deal.
Naija News recalls that Shell and Eni jointly acquired the rights to OPL 245, a Nigerian offshore oil block, for about $1.3bn but the deal had spawned legal cases spanning several countries.
He further said that over N685m was recovered through the help of whistleblowers within the last one year while N500m was recovered from forfeited vessels, trucks, and barges.
The AGF said a legal framework introduced by the ministry had helped to raise stamp duty collection from N22bn over the years to N66bn within the last six months of the amendment of the Act.
He said some bills currently before the National Assembly would stimulate the economy when passed into law.
Source: Naija News