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• The money being said to have been laundered was contractual payments by Shell Petroleum Development Company to Forstech Technical Nigeria Limited on the instructions of Bayelsa State Government for the Processing of SPDC's building permit for the Gbaran Ubie Project in Bayelsa State.
  
  For fairness, it is important to state that the Bayelsa State House of Assembly investigated the permit issue and found that Shell evaded N4b in taxes/levies to the BYSG and N3.6b processing fees to the consultant Forstech Tech.
  
  The Attoney General and Government of Bayelsa State has in fact taken SPDC to Fed High Court Yenagoa to compel them to pay the balances and penalty of N10b having defaulted and refused to pay the demand notices of the Government. The matter is ongoing coming up on 28 June 2012.
  
  Shell had built the $4.2b Plant on 2m sqm without building permit in contravention of the Petroleum act and the Urban and regional planning Act. While DPR waived the contraventions, the Bayelsa state government insists on compliance.
  EFCC's failure to prosecute SPDC for tax evasion is unknown. Their election to charge all the expenses of Forstech from their bank account as money laundering is yet unknown. Most intriguing is that EFCC recognises that the money being laundered was not illicitly obtained. The money laundering act requires that the source must be illicit.

  From: Crockett Qaks

  Posted: 11 months ago

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