The Malabu scandal involved the transfer of about $1.1 billion by Shell and ENI through the Nigerian government to accounts controlled by a former Nigerian petroleum minister, Dan Etete.
The judge had directed 20 banks to “ring-fence any cash, bonds, deposits, all forms of negotiable instruments to the value of $2.7bn and pay all standing credits to the Shell companies up to the value into an interest yielding account in the name of the Chief Registrar of the court.”
A lower court in the Netherlands found in 2013 that Shell should pay compensation for one leak, at Ikot Ada Udo, but ruled that Shell’s parent company in the Netherlands could not be held liable in a Dutch court for the actions of its Nigerian subsidiary.
The US Department of Justice’s Office of International Affairs of the Department’s Criminal Division provided significant assistance in securing the defendant’s extradition from Germany.
police officer Joe Gutierrez was terminated from service after an internal investigation concluded that the police department’s “policy was not followed” and pepper spray was used against Lieutenant Caron Nazario, officials of Windsor, Virginia, said in a statement.
The financial services industry (measured by volume) led the activity chart with 607.22 million shares valued at N6.07bn traded in 10,125 deals, thus contributing 68.46 per cent and 65.99 per cent to the total equity turnover volume and value respectively.