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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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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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Nollywood, social media, others fueling get-rich-quick syndrome — First Lady

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The wife of President Bola Tinubu, Senator Oluremi Tinubu, on Friday, said skewed messages projected by some movies, social media and religious organisations are fueling the get-rich-quick syndrome which is also driving Nigeria’s high rate of trafficking in persons.

Tinubu also pledged her support to the National Agency for the Prohibition of Trafficking in Persons in the agency’s ongoing fight against human trafficking.

She stated this when the Director-General of the agency, Binta Bello, led the top management of NAPTIP to her office at the State House, Abuja.

Senior Special Assistant to the First Lady on Media, Busola Kukoyi, revealed this in a statement signed on Friday titled ‘First Lady reiterates call for re-orientation for hard work and patience.’

The First Lady, who was briefed on the activities of the Agency, particularly the recent raid on a baby factory in Abuja, where 19 pregnant young girls were rescued, called on youths to stop making themselves easy targets for traffickers and other criminally minded people by embracing the virtues of patience and hard work.

She said, “The get rich quick syndrome is not helping matters. Even our religious institutions are doing prosperity preaching and even the bible talks about work. Social media is also not helping. Nollywood as well.

She pledged her support to the agency, starting with interfacing with wives of State Governors to assist in enhancing awareness and advocacy about its activities.

Earlier, the Director General of the Agency solicited the First Lady’s support for NAPTIP’s renewed campaign against human trafficking and GBV.

Bello explained that it is top of the agenda of the agency, as the trend of trafficking is getting alarming.

“Trafficking in persons is the second largest transnational organised crime in the world after drug trafficking.

“It is also a huge menace in Nigeria and it requires the buy-in and active engagement of critical stakeholders to fight it,” she stated.

She pointed out that despite the agency’s string of successes including the recent rescue of 21 young victims taken from Niger State, en route Republic of Niger, gaps in resources mobilisation and legal frameworks are some of the challenges confronting the operations of the agency.

She highlighted skills acquisition, awareness advocacy, provision of adequate shelter and safe homes, and legislative and policy support as some of the areas of intervention needed from the First Lady.

The First Lady also gave an audience to the new national executives of the National Council for Women Societies of Nigeria, led by its new National President, Princess Edna Azura.

The delegation was in her office to thank her for her motherly support to the council, especially after the passing of its immediate past National President, Lami Lau.

While commending them for working together in unity, the First Lady encouraged the council to do more for their members by taking advantage of the Renewed Hope Initiative, RHI programs at the subnational levels.

Tinubu reiterated her commitment to building better families through the Renewed Hope initiative.

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Ex-minister of Women Affairs, Uju Kennedy-Ohanenye joins Nollywood

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Former Minister of Women Affairs, Uju Kennedy-Ohanenye has joined the Nigerian movie industry, Nollywood.

Kennedy joined Nollywood a few months after being sacked by President Bola Tinubu.

SOCIETY REPORTERS reports that Uju Kennedy-Ohanenye was appointed as minister in August 2023, and removed alongside four others in a cabinet reshuffle on October 23, 2024.

The 51-year-old politician has now shifted her focus to filmmaking barely four months after her removal from the cabinet.

Announcing her acting career on her X handle, the former minister shared a video of her latest project.

Kennedy who is also a lawyer and entrepreneur, joined the All Progressives Congress, APC, in 2015 and emerged the party’s first female presidential aspirant in 2023, before ultimately withdrawing to support Tinubu.

 

 

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Alleged N1.3bn Fraud: Police Withdraw Charge against Obanikoro, Adegbenro and Others…

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The Nigeria Police Force has withdrawn the alleged fraud charge against Mr. Gbolahan Obanikoro, the son of Senator Musiliu Obanikoro, and four others, over alleged N1.3 billion fraud involving Access Bank.

 

Gbolahan alongside, Adejare Adegbenro; Balmoral International Limited; M.O.B. Integrated Limited; and DDSS International Company Limited were billed for arraignment before Justice Ambrose Lewis-Allagoa of the Federal High Court in Lagos on February 27.

 

However, the police in a Notice of Withdrawal brought under Section 108(1) of the Administration of Criminal Justice Act, 2015, has informed the court of its desire to withdraw the charge against the defendants.

The document dated February 4, and signed by a Chief Superintendent of Police, J. I. Enang read in part: “Take notice that the prosecution hereby withdraws the above mentioned charge against the defendants herein.

 

 

However, no reason was given for the withdrawal of the charge.

 

In the suit marked: FHC/L/902c/2024, the defendants were accused of conspiracy, obtaining by false pretences, and involvement in a N1,356,057,330.43 fraud.

 

The Inspector General of Police, had through the Special Fraud Unit (PSFU) in Ikoyi, Lagos, accused all the defendants of conspiring between May and September 2013 to fraudulently obtain the sum of N1,356,057,330.43 from Access Bank Plc (formerly Diamond Bank).

 

 

They allegedly misrepresented themselves to the bank’s staff and officers, claiming that they were involved in the business of importing cars from Dubai for sale in Nigeria and that the money was needed to finance the importation of a set of brand-new cars for resale.

 

 

The defendants were also accused of converting, transferring, retaining, or taking possession of the funds, knowing or having reason to know that such funds were proceeds of unlawful activity.

 

Additionally, they were alleged to have unlawfully converted the sum of N1 billion belonging to the bank for personal use.

 

When the matter came up last month, the prosecutor, M.Y. Bello informed the court that the matter was scheduled for the arraignment of all defendants.

 

However, he requested a new date to allow all the defendants to appear in court and take their pleas.

 

 

Counsel for the 4th defendant, Joshua Abel, told the court that most of the defendants, who were directors were not in the country, adding that only the companies named in the charge had been served with the charge sheet.

 

He, however, assured the court that all defendants would be present at the next adjourned date to take their pleas.

 

In light of the submissions, Justice Lewis-Allagoa adjourned the matter to February 27 for the arraignment of all the defendants.

 

Meanwhile, there were indications that the hearing for the case to be struck out might hold tomorrow, Friday.

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