FG investigating Mobil for alleged $1.9bn underpayment for oil block

The presidency said Wednesday that the federal government is investigating multinational giants, including Mobil Oil Producing for allegedly short changing the federation in the payment for the oil blocks they acquired and remittance of taxes.

This came as an Italian expert, Dr Don Hubert, in his analysis of the report on OPL 245, noted that the Malabu deal from onset was designed to short change Nigeria, as the agreement took out areas that were meant to generate revenue for the country.

A senior presidential assistant and Chairman of the Special Panel on Recovery of Public Properties, Mr. Okoi Obono-Obla, said at a press conference in Abuja that the oil giant, Mobil Oil, committed the act in 2009 after it acquired an oil block for $2.5billion but remitted only $600 million into the federation account and is yet to pay the balance of $1.9billion.

Obono-Obla, who spoke at an Anti-Corruption Situation Room on Public Presentation of Expert Analysis of OPL 245, otherwise known as Malabu Oil, yesterday in Abuja, disclosed that apart from Mobil Oil Producing Nigeria, the panel is also investigating a lot of multinational oil companies in Nigeria over their failure to pay taxes to the government.

Source: THIS DAY

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