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Festus Akanbi and Emmanuel Addeh, with agency report Fresh documents on the long-standing legal dispute between the federal government and Malabu Oil have shown that JP Morgan, the American bank in the middle of the alleged scandal, was alerted by its internal control team that the $875 million transfers to former petroleum minister Dan Etete, for the sale of OPL 245, were questionable. Etete, who was minister under the Sani Abacha regime, has been in the eye of the storm concerning the sale of the oil block which triggered a number of court cases in Nigeria and in Europe. A report yesterday by Bloomberg indicated that JPMorgan Chase & Co. was warned by its compliance team over the “great risk” of corruption just days before it made the last of three transfers that totalled $875 million to Etete.

United statesCity ofUnited kingdomDan eteteEtete malabuFestus akanbiEmmanuel addehOlusegun obasanjoSani abachaMohammed abachaRoyal dutch shell plcJpmorgan chase coLondon high courtJp morganMalabu oilPresident olusegun obasanjo