Page 227 - harryDEC12_clean.iba

SECTION 1
NEW PERSPECTIVES
It was a hot summer day in 1987. I was sweating under my shirt and I opened my shirt collar and loosened my tie, when Moira entered the room saying:
"Getting undressed Harry, a bit early, I am not ready yet"
"Get off it Moira, is there nothing else on your mind then Sex?
I answered. Then she put a fax on my desk, where it rested for a moment until John opened the window and it landed on the floor from where I picked it up. I cursed loudly, as it took me some time to sort the papers in the right order. It was an enquiry about political risks insurance from New York, signed with the strangest name I ever came across: Prince Oghenekohwo.
He, the Prince was seeking insurance against an Embargo of deliveries of crude oil to the United States in the case of the overthrow of the government of Nigeria – consequent to which long-term delivery conditions entered into by the then president Babangida could no longer be fulfilled. It concerned a huge volume of light crude oil (petroleum) deliveries over three years. Attached to that was a convolute of contract documents of an American government agency and the Nigerian National Petroleum Corporation (NNPC), signed by the state president personally. Obviously the crude oil was destined for military purposes, a good sign, I thought. For example, a bill of lading for a first transport in October and a letter of credit were among the documents. The signature of Prince Oghenekohwo did not necessarily add credibility to the deal. When I finally showed my partner John the documents he said only:
“Nigerian bullshit! Prince Oghenekohwo! You know, Harry, there’s so much shit on the Market, brokers run around with false papers and try to insure tanker cargos as retirement gifts of the president to departing generals - one tanker cargo of oil per General, enough to look after you in old age.”
“Just don’t be so damn ignorant, John. You’re missing the point,”
I said.
“Hey! They’re talking not about cargo insurance but about political risks, more exactly, an embargo in the case of a putsch.”
“You mean if they cut off the president’s balls? Then go to Kaines and show them the papers!”
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