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FBI charges top NNPC official for taking $2.1 million bribes to help Addax Petroleum escape $2.4 billion liability to Nigeria…

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2 months ago

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A Senior Nigerian National Petroleum Corporation official has been slammed with bribery and tax-related charges in the United States, court filings seen by Peoples Gazette said.

 

 

A jury recently returned a three-count indictment against Paulinus Iheanacho Okoronkwo after the Federal Bureau of Investigation found that he used his position as a general manager in NNPC’s upstream department to obtain at least $2.1 million in bribes.

 

The alleged bribe was to assist Addax Petroleum escape its $2.4 billion liability to Nigeria as part of an oil-lifting contract that began in 2001, the January 10, 2024, the grand jury indictment said before the United States District Court for the Central District of California.

 

 

Mr. Okoronkwo, 67, a dual citizen of Nigeria and the U.S., has practised immigration and personal injury law in California for nearly 30 years. On May 25, 2015, just days before President Goodluck Jonathan was due to exit office on May 29, Mr Okoronkwo and other NNPC officials hurriedly entered into an agreement that would see Addax Petroleum return to developing Nigeria’s crude and gas reserves after a protracted pause due to a years long dispute over the 2001 deal between Nigeria and the Chinese firm.

 

Addax Petroleum, based in Switzerland but owned by Sinopec, bribed Mr Okoronkwo with $5,263,157.89, including an immediate payment of $2,105,263.16, in October 2015 after the new administration of Muhammadu Buhari threatened the May 2015 contract, court documents said. Prosecutors did not immediately say whether or not Mr Okoronkwo received the balance from Addax, which might have been paid through other channels that may or may not pass through the U.S. financial system.

 

The $2.1 million payment was made via a wire transfer to Mr Okoronkwo’s law firm bank account in the U.S. It was purportedly billed for “Consultants for the negotiation and completion of a Settlement Agreement with NNPC” with respect to Addax’s dispute over drilling rights, prosecutors said in the indictment first alleged before a grand jury in June 2023.

 

Mr Okoronkwo helped Addax navigate the challenges from the Buhari administration that initially tried to impose a $2.37 billion liability on the Chinese firm, filings said.

 

“Addax had calculated that the failure to apply the side letter prospectively would cost Addax approximately $2.37 billion,” the indictment said. Mr Okoronkwo was using his U.S. law firm to purportedly represent Nigeria against NNPC, where he was also working as a general manager in charge of crude oil transactions.

 

Both Mr Okoronkwo and Addax made several efforts to conceal the bribe payment as legitimate, and a senior vice-president of the company was fired on July 13, 2016, for questioning the $2.1 million illicit transaction.

 

 

Authorities also filed obstruction and tax-evasion charges against Mr Okoronkwo for lying to investigators about the nature of the deal while also failing to pay taxes on it in his 2016 returns.

 

Mr Okoronkwo knew the $2,105,263 payment represented a bribe from Addax in exchange for his influencing the NNPC, that the payment did not represent client funds but rather illicit income and the $45,000 in gross income represented in his individual tax return did not include the multimillion-dollar bribe payment he had received, the filings said.

 

Mr Okoronkwo will be arraigned in the coming weeks and faces up to 10 years in prison upon conviction. A separate forfeiture proceeding was underway to recover Mr Okoronkwo’s ill-gotten yields, including a home he bought in cash for $983,200 in 2017 from the proceeds.

 

A spokesman for the NNPC did not immediately return a request seeking comments over Mr Okoronkwo’s case, which marked only the latest in a long trail of prosecutions instituted over illegal transactions from Nigeria by U.S. officials in California. The same district had recently confiscated over $6 million from Ara Dolarian, an unlicensed arms dealer who bilked Nigeria to the tune of $12 million in

2014.

 

Source: Peoples Gazette

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Society

Concerns raised over whereabouts of security expert, Otunba Adejare Adegbenro

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7 hours ago

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May 3, 2024

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Concerns have arisen regarding the whereabouts of Amb. Dr. Otunba Adejare Adegbenro, a prominent Nigerian diplomat and security expert.

 

Amb. Adegbenro, known for his contributions to national security and international diplomacy, has reportedly gone missing after honoring a police invitation on April 26, 2024.

 

The Coalition of Civil Society Networks (CCSN), in collaboration with the International Human Rights Commission (IHRC), has raised alarm over his sudden disappearance.

 

According to information gathered from the management of NATCOM, Amb. Adegbenro was called by the Special Weapon and Tactics Team (SWAT) of the Nigeria Police Force to respond to a petition.

 

However, since his appearance, there has been no communication from him, and his family and associates have been unable to locate him.

 

Despite rumours of his release on April 29, 2024, his whereabouts remain unknown, with his phone unreachable.

 

Expressing concern over the situation, it is highlighted that Amb. Adegbenro holds a significant role as a Special Emissary of the International Society of Diplomats (ISD) and has been instrumental in fostering collaborations between Nigerian security agencies and international organizations like the EuroPolice Federation.

 

Citing the Vienna Convention on Diplomatic Relations (1961), a signatory to by Nigeria, calls have been made to President Bola Ahmed Tinubu and Inspector General of Police Kayode Egbetokun for transparency and adherence to due process in Amb. Adegbenro’s case.

 

The CCSN/OHC-IHRC NG emphasizes the importance of upholding human rights and the rule of law, urging authorities to provide clarity on his situation.

 

The statement further appeals to Nigerian authorities for intervention, stressing the necessity of a thorough investigation into the allegations against Amb. Adegbenro.

 

Justice and accountability are deemed essential in addressing the situation effectively.

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Society

Costal highway: Landmark Beach refunds customers after demolition

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8 hours ago

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May 3, 2024

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The management of Landmark Resort Beach says it has initiated the refund process for customers impacted by the recent demolition of portions of its properties by the Federal Government.

According to a statement posted on its X account on Friday by Landmark Africa, the parent company of Landmark Resort Beach, refunds are being facilitated through the Landmark Citizen App.

While acknowledging the patience of their customers, the management advised that completion of the refund process may be delayed due to the high number of requests.

“Dear Landmark Citizens, we would like to assure you all that we have started issuing refunds to those who requested a refund of their money on the Landmark Citizen App.

“Please be patient with us, due to the volume of requests, this process will take some time. Be rest assured that all refund requests will be processed,” the statement read.

A portion of Landmark Beach on Victoria Island, Lagos, was demolished on Monday to accommodate the Lagos-Calabar coastal highway.

Minister of Works, David Umahi has defended the demolition, citing that the Landmark centre encroached upon the Federal Government’s right-of-way.

The Breeze Beach Club, Mami Chula and other beach businesses were also demolished in the process.

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Society

Auwalu Abdullahi Rano: Ice block seller who became billionaire, owns 120 filling stations, 600 trucks, 60m litre tank farm

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8 hours ago

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May 3, 2024

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Alhaji Auwalu Abdullahi Rano, popularly known as A.A Rano, transformed from a humble boy from Kano Village into a billionaire magnate, overseeing a conglomerate that includes 120 filling stations across Nigeria.

Born into an average family in Lausu, Kano State, Rano started small, with an ice block and groundnut oil business, including other local items.

Rano has gone into building a multi-billion naira enterprise spanning various sectors of Nigeria’s economy.

Today, Rano owns AA Rano oil & Gas industry in Nigeria with 56 ML Tank farm in Lagos, with 120 retail outlet/ fillng stations across Nigeria and over 600 trucks & LPG terminals as well as acquired vessel (M.T LAUSAU).

His ventures include RanoGaz, a state-of-the-art Liquified Petroleum Gas (LPG) terminal, a rice milling company, Rano Lubricant, Rano Air, Lausu Marine and Logistics, AA Rano Terminal, and AA Rano Road Haulage.

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