Thelma Osatohanmwen
A senior official of the Nigerian National Petroleum Corporation (NNPC), Paulinus Okoronkwo, has been indicted in the United States on bribery and tax-related charges.
According to court filings, Okoronkwo, a dual citizen of Nigeria and the U.S., is accused of using his position as a general manager in NNPC’s upstream department to obtain at least $2.1 million in bribes from Addax Petroleum.
The indictment alleges that Addax Petroleum, owned by Sinopec and based in Switzerland, paid Okoronkwo to help the company escape a $2.4 billion liability to Nigeria as part of an oil-lifting contract dating back to 2001.
The bribe payments were allegedly made through wire transfers to Okoronkwo’s law firm bank account in the U.S., under the guise of consultancy fees for negotiating a settlement agreement with NNPC.
Prosecutors claim that Okoronkwo facilitated Addax’s efforts to navigate challenges from the Nigerian government and conceal the illicit payments. Furthermore, Okoronkwo is charged with obstruction and tax evasion for lying to investigators about the nature of the deal and failing to report the income on his tax returns.
If convicted, Okoronkwo faces up to 10 years in prison. Additionally, a separate forfeiture proceeding is underway to recover assets purchased with the illicit funds, including a home bought in cash for nearly $1 million in 2017.
