Shell settles Nigerian corruption case

Oil giant Shell has paid $60m to head off the threat of legal action for corruption in Nigeria, Nos tv reports on Thursday, quoting a spokesman for the country’s anti-corruption committee.

‘We have reached a deal with Shell,’ Femi Babafemi, of the Economic and Financial Crimes Commission told Nos.
A spokesman for Shell confirmed a deal had been reached but declined to discuss the financial terms.
In November it emerged Shell had paid $48m to settle the case with the US authorities.
Shell is alleged to have paid $3.5m in bribes to Nigerian officials betweem 2002 and 2005 in connection with its Bonga deep water oil and gas project.