The United Kingdom (UK) declared on Monday, through its minister for Africa, that it had paid the Nigerian government 210,610 pounds (about N120 million) in fraud compensation.
This comes after a four-year investigation by the UK’s Serious Fraud Office into Amec Foster Wheeler Energy Limited’s use of corrupt agents in the oil and gas sector.
The UK government, represented by Ms. Ford, and the Nigerian government, represented by Benjamin Okolo, the federation’s solicitor-general, signed a memorandum of agreement on the money’s use.
According to Mr. Okolo, the signing of the MoU is a hint that the UK anti-bribery legislation would result in a significant return of unlawfully obtained riches to poor nations by firms.
“Even though Nigeria did not engage in the negotiations, we appreciate your decision to refund the funds. It demonstrates the United Kingdom’s commitment to the global effort to combat illicit money flows and outlaw bribery in international trade ” He added.
Ms. Ford, for her part, stated that the two countries’ security and defense dialogue earlier this month reaffirmed their commitment to work together to combat illicit financial flows, bribery, and corruption.
“The United Kingdom has a zero-tolerance policy toward corruption, and we hope that today’s signing sends a clear message about our commitment to that policy,” she said.
The funds would be invested in the Second Niger Bridge, Lagos-Ibadan expressway, and Abuja-Kaduna expressway projects, according to Juliet Ibekaku-Nwagwu, special assistant to the Nigerian president on judicial reforms and foreign relations.