What will be the final result of the Royal Dutch Shell/ENI imbroglio around a license to explore oil and gas in block OPL 246, offshore Nigeria?
Entries in Nigeria (217)
In my recent previous posts on the BOTA Foundation, I recapped its history and provided what I think were some of the critical factors which led it to be recognized as the most successful example the United States Department of Justice has had to date in returning recovered corruption assets. But what are the lessons from BOTA that might be applicable to future foundations established for the same purpose?
A civil society group, Socio-Economic Rights and Accountability Project (SERAP), has sent an open letter to U.S. President Donald J. Trump urging his “Administration to attach and release to Nigeria some $500 million worth of U.S.-based proceeds of corruption traced to former Nigerian dictator General Sani Abacha.”
Doing business in countries perceived to be high risk for corruption and FCPA compliance issues (and unhappily my country Nigeria sits squarely within that category) requires a clear picture of who your local partners are, and whether associating with them represents any sort of risk to you from a compliance perspective.
There are many striking similarities between navigating the daily chaos of urban traffic in Lagos, Nigeria and attempting to do business ethically in Nigeria. For one thing the objectives are generally the same -- to arrive alive, unharmed, and without any damage to your car or your reputation.
Secretary of State John Kerry made his third visit to Nigeria in 20 months this week, talking in the most explicit terms any top-level American official has used to explain the direct link between corruption and terrorism.
A Gabon national was arrested Tuesday and charged with conspiracy to bribe officials in at least three African countries to help win mining rights for a joint venture involving U.S. hedge fund giant Och Ziff.
Peter Chapman, the former manager in Africa of polymer banknote manufacturer Securency PTY Ltd, was sentenced in London today to two and a half years in prison for paying bribes in Nigeria.
A former manager of a polymer banknote manufacturer was convicted Wednesday of four counts of making corrupt payments to a foreign official.
Oil and gas services firm KBR said in its quarterly report Friday that the DOJ has contacted the company in connection with an investigation of Unaoil.