Mohammed Bello Adoke, former attorney-general of the federation and minister of justice, has welcomed the judgment of the Commercial Court of England and Wales which ruled that there was no evidence of fraud in the OPL 245 transaction.
The federal government had sued JP Morgan on the ground of “Quincecare duty”, alleging that the bank “ought to have known” that there was corruption and fraud in the transaction which saw Malabu Oil & Gas Ltd sell its 100 per cent stake in OPL 245 to Shell and ENI for $1.1 billion in 2011.
To back its claim, Nigerian lawyers argued that Adoke, who offered the legal advice to President Goodluck Jonathan leading to the resolution agreements in 2011, was corrupt and that the OPL 245 deal was fraudulent.
In the judgement made public on Tuesday, the Court ruled that the Nigerian government could not prove its case and that it was not defrauded.
Reacting to the judgement in a statement, Adoke explained that he was not expecting a “contrary judgment” but lamented that he has been unjustly defamed locally and internationally, and his livelihood has been taken from him as a result of “political persecution”.