Nissan Motor Co.'s executive remuneration for fiscal 2017 may have exceeded the nearly ¥3 billion cap set by shareholders, with a large sum going to arrested former Chairman Carlos Ghosn, sources said Wednesday.

While only ¥735 million ($6.5 million) was stated in the company's securities reports as remuneration for Ghosn in the year that ended March, the sources said the payment to him may have actually been about ¥2.5 billion.

In that case, Nissan may have paid Ghosn, who is facing allegations of falsifying securities reports, and other executives a total of more than ¥2.99 billion in fiscal 2017, eclipsing the cap that was adopted at a general shareholders' meeting in 2008.