AA Oil boss, Aliyu Abubakar is in hot soup. The oil mogul is facing trial in Italy in a case of corruption relating to Eni and Shell.

Italian prosecutors allege that Abubakar played a central role in one of the oil industry’s biggest scandals and giving about $500 million in cash to powerful Nigerian government officials.

The money is alleged to come out of the $1.3 billion license fee paid by Eni and Shell for access to the OPL-245 offshore oilfield located in the Niger Delta.

Both firms and the managers accused in the Milan court case, including Eni’s current Chief Executive Claudio Descalzi, have denied any wrongdoing.

– Source: Reuters