Nigeria loses $6 Billion in Oil Deal Fraud

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A court in Milan is considering charges of corruption against Eni and Shell in a controversial oil deal that led to Nigeria losing an estimated $6 Billion.

Eni and Shell are accused of knowing the money they paid to Nigeria would be used for bribes- an accusation the Italian and Anglo-Dutch energy giants deny.

This unfolding scandal, which is being played out in an Italian court, has involved former MI6 officers, the FBI, a former President of Nigeria, as well as current and former senior executives at the two oil companies.

The Campaign Group Global Witness calculated the OPL 245 deal in 2011 that deprived Nigeria of double its annual education and healthcare budget.

The former Nigerian oil minister, Dan Etete, was found guilty by a court in France of Money Laundering.