![FILE: UK flags [PHOTO: BBC]](https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2022/02/UK-flag.jpg?fit=976%2C549&ssl=1)
The United Kingdom (UK) on Monday through its minister for Africa announced the payment of 210,610 pounds (about N120 million) as fraud compensation to the government of Nigeria.
This is following a four-year corruption investigation led by the UK’s Serious Fraud Office relating to the use of corrupt agents in the oil and gas sector by Amec Foster Wheeler Energy Limited.
The government of the UK represented by Ms Ford and the Nigerian government represented by Benjamin Okolo, solicitor-general of the federation, signed a memorandum of understanding on the utilisation of the money.
Mr Okolo said the signing of the MoU is a signal that the UK anti-bribery act will lead to a substantial return of illegally acquired profits, by businesses, to developing countries.
“We are grateful that you deemed it necessary to return this fund even though Nigeria did not participate in its negotiation. It shows the UK’s commitment to the global effort to tackle illicit financial flow and prohibit bribery in international business,” he added.
Ms Ford in turn noted that the security and defence dialogue held earlier this month between both countries reaffirmed their commitment to work together to tackle illicit financial flows, bribery and corruption.
“The UK has a zero-tolerance policy to corruption and we hope that today’s signing sends a clear statement about our commitment to this,” she said.
Juliet Ibekaku-Nwagwu, special assistant to the Nigerian president on justice reforms and international relations, said the funds will be invested in the Second Niger Bridge, Lagos-Ibadan expressway and Abuja-Kaduna expressway projects.
Origin of the compensation money
The money was obtained through a Deferred Prosecution Agreement (DPA), which is when a prosecutor agrees to defer prosecution in exchange for the defendant agreeing to fulfil certain requirements such as accepting criminal liability for offences and paying the appropriate compensation. In this case, the DPA was agreed with Amec Foster Wheeler (AFWEL), relating to the use of corrupt agents in the oil and gas sector.
According to the UK’s Serious Fraud Office, AFWEL took responsibility for ten offences of corruption relating to the use of corrupt agents in the oil and gas sector by the legacy Foster Wheeler business. The offences spanned from 1996 to 2014 and took place across the world, in Nigeria, Saudi Arabia, Malaysia, India and Brazil.
In the July 2021 ruling by Lord Justice Edis, sitting at the Royal Courts of Justice, Lisa Osofsky, Director of the Serious Fraud Office, said, “over a period of 18 years, Foster Wheeler Energy Limited brazenly and calculatedly paid bribes to officials around the world to cut corners and secure contracts, going to great lengths to conceal its corrupt conduct.
“In doing so, the company subverted the rule of law and harmed the integrity of the economy in the United Kingdom. We will continue to deliver justice for the taxpayer by punishing such actions and forcing companies to change for the better.
“Justice also means recovering money to compensate victims wherever possible, and I am delighted that we have been able to secure compensation for the Nigerian victims in this case.”
Offence
Amec Foster Wheeler Energy Limited, (incorporated in England and Wales under registered number 01361134 and known at the time of the alleged offending as Foster Wheeler Energy Limited), between March 1, 1996, and June 30, 2004, conspired with certain of its employees and others to make corrupt payments to officials in the Nigerian National Petroleum Company, the Eleme Petrochemical Company Limited, and the Central Bank of Nigeria, as an inducement or reward to ensure that payments were made to Foster Wheeler Management Operations (UK) for invoices submitted under contracts for services in Nigeria.
Also, between November 1, 2003, and May 30, 2004, the firm conspired with certain of its employees and others to make corrupt payments to Nigerian police and tax officials as an inducement and reward to settle an allegation of tax evasion against Foster Wheeler (Nigeria) Limited (incorporated in Nigeria under registered number 12992).
Support PREMIUM TIMES' journalism of integrity and credibility
Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.
For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.
TEXT AD: Why women cheat: what every Nigerian man should know
