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FCPA Blog Daily News

Entries in Nigeria (220)

Monday
Sep112017

New disclosure shows spreading Eni bribery probe

An SEC filing last week by a giant Italian oil company showed how a corruption investigation has grown, starting three years ago in Nigeria but spreading now to include Algeria, Congo, Kazakhstan and Kuwait.

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Tuesday
May092017

Martin Kenney: Shell’s Nigeria mess shows why we need more disclosure

Tom Fox recently wrote a post for the FCPA Blog about allegations that Shell made a £1.1 billion ($1.42 billion) payment for an oil field license in Nigeria, with half the money ending up in a company owned by a Nigerian government official.

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Monday
May012017

SFO confirms investigation of KBR

The UK Serious Fraud Office confirmed that it has opened a new investigation into KBR, Inc.'s United Kingdom subsidiaries for suspected bribery and corruption.

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Wednesday
Apr262017

Tom Fox on that murky oil deal: It's one Shell of a mess 

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?

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Wednesday
Apr052017

Aaron Bornstein: Key Lessons of the BOTA Foundation

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?

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Wednesday
Feb082017

SERAP writes President Trump, demands return of Nigeria’s stolen assets

The late General Sani AbachaA 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.”

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Tuesday
Feb072017

Dispatch from Africa: Repeal of extractive industries disclosure rule hurts us

Dear FCPA Blog,

Thank you for your post yesterday about repeal of the SEC's extractive industries disclosure rule.

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Tuesday
Nov292016

Paul T. Oki: Knowing who to run from is half the compliance battle

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.

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Tuesday
Nov082016

Paul T. Oki: Yes, sane people drive (and do business) in Nigeria

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.

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Thursday
Aug252016

John Kerry: Corruption is ‘root cause’ of terrorism

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.

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Wednesday
Aug172016

Alleged Och Ziff Africa ‘fixer’ arrested for FCPA offenses

Daniel OchA 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.

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Thursday
Jul142016

Matthew T. Page: Weak U.S. policies help Nigeria kleptocrats hide and spend their plunder

President Obama and President Buhari of Nigeria meet on July 20, 2015. The agenda included expanding bilateral cooperation on anti-corruption.In a hard-hitting Council on Foreign Relations (CFR) Corruption Brief Improving U.S. Anti-Corruption Policy in Nigeria, I argue that U.S. policymakers could be doing a lot more to deter elite corruption in Africa’s largest economy and most populous country.

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