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Getty Images (File photo) / Shell has been active in Nigeria for 60 years
Nigeria’s Justice Minister Abubakar Malami, has said that the country recently recovered $85m (£64m) of stolen assets from the UK.
He claimed the money is linked to the Malabu scandal, a major case of alleged bribery involving oil giants Shell and ENI.
The Malabu scandal is one of the biggest corruption cases to hit Nigeria’s oil industry.
Investigators in Nigeria and in Italy claim that $1.1bn – which was paid to the government by international oil companies in 2006 – never made it into the national coffers.
Instead, they say, it ended up in the hands of a middleman called Dan Etete and his company Malabu Oil.
The money recovered is a tiny fraction of the amount allegedly taken but a coup for the government nonetheless.
Since he came to office in 2015 President Muhammadu Buhari has been on a drive to repatriate money lost to corruption, much of which is spent in the US and the UK.
Earlier this year, Italian prosecutors took up the case against ENI and Shell for their alleged part in the scandal.
Ten days ago they issued charges against senior Shell executives.
In emails seen by the BBC in April, top officials at Shell acknowledge that the money they paid to the Nigerian government would end up with Dan Etete.
And that it might be used to pay bribes. Shell claim the transaction was legal and that Mr Etete was a legitimate negotiator.Source: BBC
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