UK strikes compensation deal with Nigeria following years-long global fraud probe
Over £200,000 in compensation obtained by the Serious Fraud Office (SFO) investigation into a company called Amec Foster Wheeler Energy will be transferred to Nigeria after a UK-Nigeria Memorandum of Understanding was signed today, the SFO said this afternoon.
“In total, £210,610 will be transferred by the UK Government, with the funds supporting three key infrastructure projects, ensuring that the people of Nigeria benefit directly,” the SFO said in a statement.
In July 2021, the SFO reached a so-called Deferred Prosecution Agreement (DPA) with Amec Foster Wheeler, accepting responsibility for ten offences of corruption relating to the use of corrupt agents in the oil and gas sector.
Global activities
The offences spanned from 1996 to 2014 and took place in Saudi Arabia, Malaysia, India, Brazil and Nigeria.
As well as financial penalties and costs paid to authorities in the UK, US and Brazil, Amec Foster Wheeler’s parent company John Wood Group was ordered to pay compensation to Nigeria.
The sum was determined by Lord Justice Edis to be a “direct” loss to the people of Nigeria in tax revenue, which was evaded by the use of bribes paid by Amec Foster Wheeler to Nigerian officials.
Lisa Osofsky, Director of the Serious Fraud Office, said: “We have a zero tolerance approach to companies who think they can bribe their way to financial success.
“Bribery and corruption not only stifle real economic growth and free trade, they also damage democracy and therefore risk the security of all our countries,” she added.
Minister Ford represented the UK Government at today’s signing of the Memorandum of Understanding in Abuja, Nigeria. The agreement was also signed by Nigerian Attorney General Abubakar Malam.