• Home
  • News
  • Entertainment
  • Tech
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
Federal Character
No Result
View All Result
Federal Character
  • Home
  • News
  • Entertainment
  • Tech
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health
No Result
View All Result
Federal Character
No Result
View All Result
Italy’s Top Court Shuts Down Prosecutors’ Case in $1.3bn Nigeria Oil Scandal

Italy’s Top Court Shuts Down Prosecutors’ Case in $1.3bn Nigeria Oil Scandal

Ayobami OwolabibyAyobami Owolabi
48 minutes ago
in Government
Reading Time: 2 mins read
A A
0
Facebook ShareWhatsapp ShareX Share

Two prosecutors who handled the unsuccessful corruption trial against energy companies Eni and Shell over Nigeria’s controversial OPL 245 oil block have been acquitted by Italy’s highest court, drawing another chapter to a close in one of Africa’s most enduring oil scandals.

The Court of Cassation in Italy set aside the convictions of Milan prosecutors Fabio De Pasquale and Sergio Spadaro, finding that they had not committed any offence in allegations that they suppressed evidence during the case against Eni, Shell, and former executives linked to the 2011 OPL 245 acquisition.

The ruling represents another major turn in a legal battle that has spanned more than a decade across courts in Europe and Africa, involving accusations of bribery, political interference, and the struggle over one of Nigeria’s most valuable undeveloped oil reserves.

At the centre of the OPL 245 controversy is a 2011 agreement under which Eni and Shell paid approximately $1.3 billion to secure rights to the offshore oil field, estimated to hold about 9 billion barrels of crude reserves.

Italian prosecutors had alleged that a significant share of the funds was eventually channelled to politicians, public officials, and middlemen. However, Eni and Shell repeatedly denied any misconduct, maintaining that the payment was made directly to the Nigerian government.

Italy’s Top Court Shuts Down Prosecutors’ Case in $1.3bn Nigeria Oil Scandal

A Milan court in 2021 acquitted Eni, Shell, and all other defendants in what had become one of the most high-profile corruption trials in the global energy industry.

The prosecutors later faced scrutiny after defence lawyers alleged that they had not revealed evidence that may have strengthened the companies’ defence.

In 2024, a lower court found De Pasquale and Spadaro guilty, a decision that was later confirmed by an appeals court the following year. However, Italy’s highest court has now annulled both rulings, bringing the criminal proceedings against them to an end.

The judgment also diminishes the broader legal impact of a case that was once regarded as a landmark examination of global anti-corruption efforts within the oil sector.

The importance of OPL 245 extends beyond legal proceedings in Nigeria. The offshore block, considered one of the nation’s largest untapped deepwater oil assets, has stayed largely inactive for years as court cases and ownership disputes have delayed investment and development.

The continued uncertainty has also limited Nigeria’s ability to fully develop a resource that could strengthen future oil output, at a time when Africa’s largest crude producer is grappling with declining production, oil theft, underinvestment, and rising competition from newer oil-producing countries across the continent.

New developments show that Nigeria is making efforts to resolve the long-standing controversy. Earlier this year, officials endorsed a plan that could see the disputed licence area broken into new assets for development by Eni and Shell, potentially paving the way for substantial future investment and production gains.

The development reflects a wider effort by President Bola Tinubu’s administration to draw new investment into Nigeria’s oil and gas industry following years of policy uncertainty and delayed projects.

Although the latest judgment does not resolve the broader controversy surrounding OPL 245, it clears another layer of legal uncertainty in a case that has influenced discussions on corruption, transparency, and resource management within Africa’s energy sector for over ten years.

Tags: federal characteritalyNewsNigeriaOil ScandalProsecutors
Share234SendTweet146
Ayobami Owolabi

Ayobami Owolabi

Owolabi Ayobami is an emerging entertainment journalist, dedicated to delivering the latest scoop on Nollywood, music, and celebrity culture. With a keen eye for detail and a passion for storytelling, he brings fresh insights and perspectives to the entertainment beat.

Related Stories

Nigeria Pushes $400m Rare Earth Project to Cut Dependence on Raw Mineral Exports

Nigeria Pushes $400m Rare Earth Project to Cut Dependence on Raw Mineral Exports

byAyobami Owolabi
0

A delegation from the Nigerian government has toured the proposed location of a $400 million rare earth processing facility in Nasarawa State, a project aimed at advancing efforts...

African and Caribbean States Push for Formal Apology on Slave Trade Atrocities

African and Caribbean States Push for Formal Apology on Slave Trade Atrocities

byAyobami Owolabi
0

African and Caribbean nations have demanded a formal apology and compensation from countries that profited from the transatlantic slave trade. The calls were made at the end of...

Trump Administration Cuts Student Loan Interest Rates

Trump Administration Cuts Student Loan Interest Rates

byEriki Joan Ugunushe
0

​A change is coming to the American education system as the Education Department announced on Thursday that it is launching an urgent plan to lower borrowing costs for...

Fed’s Lisa Cook Discloses $1.3M in Fees From Trump Legal Battle

Fed’s Lisa Cook Discloses $1.3M in Fees From Trump Legal Battle

byEriki Joan Ugunushe
0

​ Official financial documents show that Fed’s Lisa Cook spent $1.3M in fees from the Trump legal battle and personal security costs after the White House tried to...

Next Post
Nigeria Pushes $400m Rare Earth Project to Cut Dependence on Raw Mineral Exports

Nigeria Pushes $400m Rare Earth Project to Cut Dependence on Raw Mineral Exports

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

We bring to you precise and factual news

Recent Posts

  • Nigeria Pushes $400m Rare Earth Project to Cut Dependence on Raw Mineral Exports
  • Italy’s Top Court Shuts Down Prosecutors’ Case in $1.3bn Nigeria Oil Scandal
  • African and Caribbean States Push for Formal Apology on Slave Trade Atrocities

Categories

  • Beauty
  • Business & Finance
  • Entertainment
  • Fashion & Lifestyle
  • Food & Nutrition
  • Government
  • Health
  • News
  • Politics
  • Sports
  • Tech

Weekly Newsletter

  • About Federal Character | Baltimore, Maryland Newspaper
  • Advertise With Federal Character | Baltimore, Maryland
  • Cookie Policy

Copyright © FederalCharacter.com 2026 .

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
  • Entertainment
  • Tech
  • Fashion & Lifestyle
  • Food & Nutrition
  • Health

Copyright © FederalCharacter.com 2026 .