Nigeria, March 17 -- An Italian court has declared Shell, Eni and their managers all acquitted in the controversial Malabu scandal.

PREMIUM TIMES gathered that they were all acquitted by the court on Wednesday.

The Malabu scandal involved the transfer of about $1.1 billion by Shell and ENI through the Nigerian government to accounts controlled by a former Nigerian petroleum minister, Dan Etete.

From accounts controlled by Mr Etete, about half the money ($520 million) went to accounts of companies controlled by Aliyu Abubakar, popularly known in Nigeria as the owner of AA oil.

Anti-corruption investigators and activists suspect he fronted for top officials of the Goodluck Jonathan administration as well of officials of Shell and ENI. ...