Oil Baron Cooperates With EFCC Over Shady Oil Swap Deals

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The Chairman of Atlantic Energy Drilling Concepts Nigeria Limited, Mr. Jide Omokore is cooperating with operatives of the Economic and Financial Crimes Commission (EFCC), who are probing him over multi-billion dollar oil swap deals between his firm and Nigerian National Petroleum Corporation (NNPC).

Omokore, an active player in the oil sector during the past administration, was taken in by the EFCC last week to assist them in unraveling how his firm won oil swap deals running into billions of dollars, and whether such money had been remitted to the coffers of the government.

“We are trying to extract from him the quantity of oil his company was awarded under the oil swap deal and how much he has so far remitted to the government,” Vanguard quoted a source to have said.

“So far, he has been cooperating with our operatives but we have not extracted the exact figure of what the deals were worth; we are certainly making progress.”

Omokore’s company was among those accused of lifting crude oil, worth billions of dollars, but only remitting a fraction of its worth to the government.

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