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OPL 245: Nigerian state keeps pressure on US bank JPMorgan

31/05/2021
Source : ORISHAS FINANCE
Categories: Companies

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London justice is interested in the commissions generated by the acquisition in 2011 of the oil block OPL 245. The Nigerian State maintains pressure on the American bank JPMorgan Chase, which it accuses of negligence, for having transferred from accounts $875 million from the Nigerian state between 2011 and 2013 to the junior Malabu Oil & Gas, prior to the sale to Shell and ENI of block OPL 245.

On May 11, the High Court of London granted a favorable response to Abuja's request for access to several documents from the American "compliance" department of JPMorgan, responsible for assessing the risks of non-compliance in banking operations. and financial. After having established the responsibilities and the possible shortcomings, the Nigerian State decided to maintain the pressure on the American bank JPMorgan.

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