November 21, 2007

$40 Million Stolen from Nigerian Aid Plan, Ex-Official Probed

British and Nigerian officials are investigating possibly illict payments from Shell and Chevron into the bank account of former Nigerian state governor James Ibori, reports the Sunday Times.

Ibori allegedly laundered $40 million meant for education and engineering projects through British banks, using part of the money instead to buy luxury cars. The investigation is also scrutinizing payments from Shell and Chevron that went directly to Ibori’s businesses in Nigeria to pay for houseboats for oil employees.

Though he has not yet been charged with anything, Ibori is “desperate” to prove his innocence.

Source:

“Governor ‘hid stolen 20m’ in UK banks”
Times (U.K.), November 18, 2007

LEARN MORE ABOUT NIGERIA’S OIL INDUSTRY:

“U.S. Courts Tackle Foreign Abuses / Energy corporations question ‘law of nations'”
Newsdesk.org, July 26, 2004

“Nigeria I — Wiwa v. Shell”
Newsdesk.org, May 13, 2002

“Nigeria II — Bowoto v. Chevron”
Newsdesk.org, May 13, 2002

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