An Italian Court has ordered the arrest and immediate prosecution of a Nigerian Oil Magnate and chairman AA Oil, Alhaji Aliyu Abubakar over $500million Bribe scandal.
Abubakar was said to be involved in several receipt of bribe from ENI and Shell and issuance of same to some top Nigeria Politician to the tune of $500million.
According to Milan prosecutors on Wednesday, Abubakar, a renowned billionaire oil mogul was responsible for handing out more than $500 million in cash to powerful Nigerian government officials.
It was gathered that money is part of the $1.3 billion licence fee paid by Eni and Shell for access to the OPL-245 offshore oilfield located in the southern Niger Delta.
The Defense Counsel in Italy, Davide Pozzi, said his client is innocent of the allegation preferred against him, adding that Abubakar will come out open to make his stand known concerning the case.