Headline

Malabu: Nigeria Loses $1.7 Billion JP Morgan Case

Published

4 years ago

June 14, 2022

Nigeria on Tuesday lost its $1.7 billion claim against JP Morgan Chase Bank over the transfer of proceeds from the sale of OPL 245 in the controversial Malabu oil deal.

Judge Sara Cockerill ruled Tuesday that the Nigerian government couldn’t show that it had been defrauded in the case.

In the suit, Nigeria is claiming more than $1.7 billion for the bank’s role in the controversial deal. Nigeria also alleges that JP Morgan was “grossly negligent” in its decision to transfer funds paid by oil giants Shell and Eni into an escrow account controlled by a former Nigerian oil minister, Dan Etete.

Earlier in February, Nigerian lawyer, Roger Masefield, argued that the nation’s case rested on proving that there was fraud and JP Morgan was aware of the risk of fraud.

“The evidence of fraud is little short of overwhelming,” the lawyer told the court.

“Under its Quincecare duty, the bank was entitled to refuse to pay for as long as it had reasonable grounds for believing its customer was being defrauded.”

Quincecare refers to a legal precedent whereby the bank should not pay out if it believes its client will be defrauded by making the payment.

Judge Cockerill said Tuesday that by the time of the 2013 payments, the bank was “on notice of a risk” of fraud.

“There was a risk – but it was, on the evidence, no more than a possibility based on a slim foundation,” the judge ruled.

Background
The OPL deal details how Shell and Italy’s Eni in 2011 paid the Nigerian government of then president Goodluck Jonathan a combined $1.3 billion for an oil block. Of that amount $875 million was paid to Malabu Oil & Gas, a company controlled by former oil minister Dan Etete.

Mr Etete had awarded Malabu the rights to the block in 1998 when he was Nigeria’s oil minister.

Within weeks of the deal in April 2011, half of Malabu’s money was allegedly packed into bags and paid out to Nigerian government officials and Western oil executives as cash bribes.

The deal has also spawned further lawsuits, including efforts by a new presidential regime in Nigeria to recover assets. A panel of judges in Milan acquitted the companies and executives, who all denied any wrongdoing, of bribery last March. Prosecutors have however appealed the ruling.

Classified documents from Britain’s financial crime agency seen by this newspaper revealed how it allowed JP Morgan to pay $875 million of suspicious funds to Mr Etete, a former Nigerian oil minister widely known as a convicted money launderer.

The documents, rarely seen Suspicious Activity Reports (SARs), were filed by the banking giant’s London branch as it raised concerns about huge payments it was being asked to make by the Nigerian government to Mr Etete.

The reports were filed in 2011 and 2013 to the UK’s Financial Intelligence Unit (FIU), which at that time sat within the now defunct Serious Organised Crime Agency.

Trial
The trial opened in February with details of the claim by Mr Masefield, who argued that the bank failed in its Quincecare duty.

Damages sought by Nigeria include cash sent to Mr Etete’s company, Malabu Oil and Gas, around $875 million paid in three installments in 2011 and 2013, plus interest, taking the total to over $1.7 billion.

But Bloomberg reports Tuesday that the London High Court judge said no such breach took place.

“The Federal Republic of Nigeria is naturally disappointed by the outcome of the judgment and will be reviewing it carefully before considering next steps,” a spokesman told Bloomberg. He added that the Nigerian government will continue its fight against fraud and corruption and to work to recover funds for the people of Nigeria.

JP Morgan in a statement said that the judgment reflects its commitment to acting with high professional standards in every country it operates in. The bank added that the judgement also shows how “we are prepared to robustly defend our actions and reputation when they are called into question.”

PREMIUM TIMES.

Headline

British Family Accused Of Boarding Dead Grandmother On EasyJet Flight

Published

11 hours ago

December 20, 2025

Editor

A British family has been accused of trying to board a dead relative onto an EasyJet flight from Málaga, Spain, to London Gatwick on Thursday, passengers said.

The woman, reportedly 89 years old, was wheeled onto the plane by five family members, who told airline staff she was unwell and had fallen asleep.

Witnesses said the woman was pushed in a wheelchair to the rear of the plane and lifted into her seat. Some claimed they overheard a family member tell a boarding clerk, “It’s OK, she’s just tired,” adding, “It’s OK, we’re doctors.”

Just before takeoff, the cabin crew realized the woman had died, and the plane was turned around, delaying the flight by 12 hours.

Petra Boddington, a passenger, said: “easyJet, when did you start letting dead people onto planes? Seriously!” Another, Tracy-Ann Kitching, added: “I saw her being wheeled onto the plane; someone was holding her head as they passed me! A doctor on board confirmed that was already dead when they sat her down.”

EasyJet has denied that a deceased person boarded the plane. The airline said the passenger had a fit-to-fly certificate and was alive when she boarded.

“The flight returned to the stand prior to take-off due to a customer on board requiring urgent medical assistance. The flight was met by emergency services, but sadly the customer passed away,” a spokesperson said.

The Guardia Civil in Málaga confirmed officers attended the aircraft, and the woman was declared dead on board. No arrests have been made.

Headline

Russian Strike On Odesa Region Kills Eight, Injures 27

Published

11 hours ago

December 20, 2025

Editor

Ukraine’s State Emergency Service has reported at least eight people killed and 27 others injured on Friday night after a Russian ballistic missile strike hit the southern Ukrainian city of Odesa.

According to Ukrainian authorities, the attack targeted port infrastructure facilities in the town of Pivdenne, near Odesa, and damaged nearby civilian vehicles.

The strike came one week after much of Odesa was left without power, heat, and water following a “severe” aerial assault.

“Some of the injured were on a bus that was at the epicenter of the shelling. Trucks caught fire in the parking lot, and cars were also damaged,” the State Emergency Service said.

Emergency officials said the deaths occurred at a port infrastructure facility. Medical teams and first responders were deployed after the strike, but their work was disrupted by “ongoing air raid alerts,” according to Oleh Kiper, head of Odesa’s regional administration.

Russia has carried out repeated attacks on Odesa in recent days, damaging port facilities, civilian vessels, and key infrastructure.

Two major bridges linking the northern and southern parts of the Odesa region have also been hit, with repairs under way, Kiper said.

Elsewhere, Ukraine’s State Emergency Service reported a “massive” drone attack on the southern Mykolayiv region, which damaged civilian infrastructure and vehicles. No casualties were reported.

Odesa, Ukraine’s largest seaport and a major hub in the Black Sea region, has been a frequent target since the start of the war.

Last week, civilian, energy, and industrial sites in the city suffered extensive damage after what regional officials described as “one of the enemy’s most severe airstrikes,” leaving many areas without power and water.

Russia’s Defence Ministry has not commented on the attack.

Speaking hours before the strike during his annual Direct Line call-in show, Russian President Vladimir Putin said Russia was yet to “see Ukraine’s readiness for peace”.

“[Russia] is ready for negotiations and for ending the conflict via peaceful means,” Putin said, adding that it was up to Russia’s “Western opponents” to end the war.

(CNN)

Headline

Aircraft Crashes In Owerri With Four Persons Onboard

Published

4 days ago

December 17, 2025

Editor

Photo: File copy

A Cessna 172 aircraft with registration number 5N-ASR, operated by Skypower Express, has crashed at the Sam Mbakwe International Cargo Airport, Owerri, Imo State.

The aircraft had departed Kaduna International Airport en route to Port Harcourt International Airport before diverting to Owerri after the crew declared an emergency.

The crash occurred at about 8:00 pm on the airport premises, with four passengers and crew members onboard.

Confirming the incident, the Director, Public Affairs and Family Assistance of the Nigerian Safety Investigation Bureau (NSIB), Mrs. Bimbo Oladeji, said the agency had been notified of the crash.

According to the NSIB, the aircraft crashed on the approach area of Runway 17, but no fatalities have been recorded so far.

The statement said: “Following the occurrence, airport emergency services were successfully activated and arrived on site promptly. Reports indicate that there was no post-crash fire, and the runway remains active for flight operations, with other aircraft taking off safely after the incident.

“Efforts are currently underway to coordinate the recovery and evacuation of the distressed aircraft from the crash site to allow for a detailed wreckage examination.”

The NSIB said it has officially activated its investigation protocols in line with its statutory mandate

The Director-General of NSIB, Capt. Alex Badeh Jr., sympathised with the management of Skypower Express over the incident and expressed relief that no lives were lost.

Badeh Jr. added that the Bureau’s investigation team is already coordinating with relevant authorities to secure the crash site and commence a detailed investigation into the cause of the accident.

Two days ago, 11 persons narrowly escaped death as a private jet crash-landed at Mallam Aminu Kano International Airport, Kano, on Sunday morning.

The occupants, including passengers and cabin crew, were safely evacuated amid an intense atmosphere, eyewitnesses told The Guardian.

The private jet, owned by Flybird Aviation, crash-landed at about 9:30 a.m. while approaching Kano Airport en route to Abuja.

The incident attracted urgent attention, with emergency staff and other stakeholders converging at the runway to render rescue operations.

The management of the Federal Airports Authority of Nigeria (FAAN) is yet to release an official statement on the incident. Unofficial sources disclosed that the passengers have been taken to an unknown destination.

Several aircraft incidents have occurred at Kano Airport, with several lives lost.

The last incident occurred in May 2002, when an EAS Airline aircraft departed the runway at Aminu Kano International Airport at 1:29 p.m. local time en route to Lagos.