Shell Knew Nigeria Ex-Minister’s Company Would Get Oil-Deal Cash

12 Apr 2017   Nigeria

Transaction under investigation amid allegations of corruption Company previously said it was unaware minister would be paid Royal Dutch Shell Plc said it knew some of the $1.1 billion paid to the Nigerian government in 2011 for an exploration license would go to a company linked to the country’s former oil minister, changing its previous stance on a deal that’s under investigation for alleged corruption. The Anglo-Dutch oil company reiterated that its joint purchase with Eni SpA of the license was “fully legal” and it paid no money to Dan Etete or his company Malabu Oil and Gas Ltd. Following the publication of internal emails showing staff discussed the risk that funds from the transaction could ultimately be used to pay off officials, Shell acknowledged on Tuesday that it was aware of the former minister’s involvement. “We knew that the Federal Government of Nigeria would compensate Malabu to settle […]

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