• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • Engr Abba Babagana Dalori

      Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

      Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

      PRNigeria logo fearured image

      EFCC Arraigns Ex-Convict, Other for Naira Abuse in Lagos

  • Fact-Check
  • Economy
    • Nigeria Customs Partners China on Smarter Ports, Officer Training, Reforms

      Comptroller General Nigerian Customs Bashir Adewale

      Customs Moves Against 223 Importers in N379bn Permit Breach

      Bashir Adewale Adeniyi Customs Boss

      How Customs is Tightening Borders to Stop Illicit Cash Flows –…

      Customs boss, CGC Bashir Adewale Adeniyi with NAFDAC DG Professor Moji Adeyeye

      Codeine, Tramadol Worth ₦20.5bn Seized as Customs-NAFDAC Cooperation Deepens

      Acting Controller General of Customs, Nigerian Customs Services, NSC, Ag. CG Bashir Adewale Adeniyi

      Adeniyi Inaugurates Lagos School Renovated by Nigeria Customs 

  • National
    • Officers of NSCDC Mining Marshals

      NSCDC Mining Marshal Seals Illegal Lithium Mine in Kebbi, Uncovers Alleged…

      NAF Air Personnel

      NAF ‘Rattles’ ISWAP Terrorists with Decisive Blow in Lake Chad Region

      Department of State Security Service DSS

      Army, DSS-Backed Hybrid Forces Neutralize 45 Bandits in Niger Operation

      Bashir Adewale Adeniyi Customs Boss

      Nigeria Customs Partners China on Smarter Ports, Officer Training

      Super Falcons wins WAFCON Trophy

      VON Apologizes for Erroneous WAFCON Report, Cites Possible Security Breach, Identifies…

    • Government
      • Super Falcons wins WAFCON Trophy

        Falcon’s WAFCON Glory: Tinubu Committed to Sports Development – Minister

        Bashir Adewale Adeniyi Customs Boss

        Nigeria Customs Partners China on Smarter Ports, Officer Training

        NYSC Corps Members in Camp

        Tinubu to Honours 210 Ex-NYSC Members for Meritorious Services

        court Judiciary

        Court Remands TikToker Arrested by DSS for claiming President Tinubu died

        Leon Usigbe

        Tinubu Mourns Veteran State House Correspondent, Leon Usigbe

  • Security
    • Officers of NSCDC Mining Marshals

      NSCDC Mining Marshal Seals Illegal Lithium Mine in Kebbi, Uncovers Alleged…

      NAF Air Personnel

      NAF ‘Rattles’ ISWAP Terrorists with Decisive Blow in Lake Chad Region

      Department of State Security Service DSS

      Army, DSS-Backed Hybrid Forces Neutralize 45 Bandits in Niger Operation

      CP Ikiouye Orutugu

      Anambra Police Bolster Security with New Armoured Personnel Carrier

      NAF Airstrike fighter jets

      NAF Airstrikes Eliminate ISWAP Fighters, Top Commanders in Marte

  • Features
    • Leon Usigbe

      Death, you can’t be Proud of this By Abdulrahman Abdulraheem 

      Tinubu’s Plateau Gambit – Yilwatda, 2027, and the Return of the…

      Ozumi and a recipient of a wheelchair

      Wheels of Hope: How a Simple Gift is Reshaping Lives at…

      Late Ex-President Muhammadu Buhari and Mansur Liman

      “Buhari: A Blunt, Honest Leader Who Laughed at His Own Predicament”

      Intelligence Synergy: Reshaping Nigeria’s Security Architecture, By Mukhtar Ya’u Madobi

  • State
    • Officers of NSCDC Mining Marshals

      NSCDC Mining Marshal Seals Illegal Lithium Mine in Kebbi, Uncovers Alleged…

      NAF Air Personnel

      NAF ‘Rattles’ ISWAP Terrorists with Decisive Blow in Lake Chad Region

      NAF Airstrike fighter jets

      NAF Airstrikes Eliminate ISWAP Fighters, Top Commanders in Marte

      The recovered AK-47 rifles

      Police Operatives Eliminate 3 Bandits, Recover 10 AK-47 Rifles

      NDLEA officials

      NDLEA Arrests Chinese Businessman, 80-Year-Old Grandma in Nationwide Drug Raids 

  • Event
    • Super Falcons wins WAFCON Trophy

      VON Apologizes for Erroneous WAFCON Report, Cites Possible Security Breach, Identifies…

      Cross section of participants and guests at the Kaduna State Chapter world PR day

      Kaduna NIPR Urges Students to Embrace Evolving PR Landscape

      Engr. Saleeman Adedoyin Saleeman

      Global IT Leader Saleeman Adedoyin Launches Free Summer School in Ilorin…

      Celestine Achi, AI in PR specialist

      BOOK REVIEW: AI is Reshaping PR—Celestine Achi Shows Us How

      Saudi Arabia’s ‘Sleeping Prince’ Dies Weeks After PRNigeria Debunked Viral Recovery…

    • PR Nigeria Award
  • E-Paper
Home Anti-Corruption Stakeholders urge Nigeria, 5 other African nations to prosecute British firm over...
  • Anti-Corruption

Stakeholders urge Nigeria, 5 other African nations to prosecute British firm over bribery, corruption

By
Prnigeria
-
June 21, 2023
PRNigeria logo fearured image

Stakeholders urge Nigeria, 5 other African nations to prosecute British firm over bribery, corruption

A conference on Addressing Illicit Financial Flows and Asset Recovery in the Extractive Industries has urged the African Union and governments of Nigeria and five other African countries to institute joint and separate judicial action against a British company, Glencore and its accomplices.

The Conference, in a communique released on Tuesday at the end of its two-day session in Diamniadio, Dakar, Senegal, asked the Extractive Industries Transparency Initiative (EITI) to call out Glencore for failure to adhere to the group’s principles and values.

Glencore, a United Kingdom subsidiary of mining and commodity trading group, was convicted by a Court in London of seven bribery offences pertaining to its oil business in Africa.

The Southwark Crown Court asked the company to pay £281 million in fines and confiscated profit as sanction for its “sustained criminality.”

While Glencore will pay £182.9 million as fine, £93.5 million from its profits will be held via a confiscation order, Judge Peter Fraser said while convicting the company for “corporate corruption on a widespread scale, deploying very substantial sums of money in bribes”.

The crimes were committed by the company in Nigeria, Cameroon, South Sudan, Cote d’Ivoire, Equatorial Guinea and the Democratic Republic of Congo.

Read Also:

  • Falcon’s WAFCON Glory: Tinubu Committed to Sports Development – Minister
  • NSCDC Mining Marshal Seals Illegal Lithium Mine in Kebbi, Uncovers Alleged ₦500bn Mineral Theft
  • NAF ‘Rattles’ ISWAP Terrorists with Decisive Blow in Lake Chad Region

The Conference was convened by the Secretariat of the African Union High Level Panel on Illicit Financial Flows and the Working Group on Common Africa Position on Asset Recovery (CAPAR).
In its 11-recommendation, the conference described Glencore corruption scandal as a symptom of a widespread and deliberate practice in the extractive industries in Africa.
”The conference calls upon the African Union and the governments of the six African victim states to draw all necessary resources for joint and separate judicial action against Glencore and its accomplices.
“The Conference calls upon Transparency International and its partners, Publish What You Pay, and related advocacy Civil Society Organisations to actively engage and support action against Glencore on these six cases.
”It also calls upon EITI to publicly call out Glencore and demand that it publicly demonstrates fidelity to the principles and values that EITI stands for.”
The conference reminded EITI of its critical role in promoting accountability and transparency in the extractive sector given that the bulk of illicit financial flows stems out from transactions in the sector.
It added that the EITI should actively take up its role in partnership with the Working Group on Extractives.
”Looking at the significant contribution of the extractive industries to illicit financial flows and the attendant impact on African economies, the industries contribute to illicit financial flows through various means including through under-declaration, underpricing and the evasion of capital controls.
“It is further complicated by base erosion and profit shifting practices of Multinational Corporations (MNCs) that misrepresent the value of goods and/or services in order to relocate untaxed profits to their home nations or to financial secrecy jurisdictions,” it said.
The conference noted that Multinational Corporations in extractive industries also engage in bribery or other corrupt activities to secure mining or drilling licenses, permits, or favourable tax treatment from government officials.
“It said some mining companies also undertake mass exports of mineral ores and crude oil from African countries often disguising and grossly understating the true value of the minerals, precious metals and/or oil in the raw materials that they export for refining.”
On the issue of criminal accountability in the extractive industries, the conference urged African Union Member States to prioritise ratification of the Malabo Protocol for a criminal jurisdiction for the African Court on Human and Peoples’ Rights.
This, it noted, would strengthen Africa’s own mechanism for criminal accountability in the extractive industries.
The Conference commended African Development Bank for taking the initiative to put in place the African Integrity Fund but advised the bank to prioritize the operationalisation of the fund.

By PRNigeria

 

VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • Bribery
  • British
  • Nigeria
Previous articleChina-African Youth Forum Entrepreneurship Kicks Off June 30
Next articleInternational Refugees Day: UN urges Nigeria to deepen support for refugees
Prnigeria
Prnigeria

RELATED ARTICLESMORE FROM AUTHOR

Department of State Security Service DSS

Army, DSS-Backed Hybrid Forces Neutralize 45 Bandits in Niger Operation

PRNigeria Young Communication Fellowship 2025 logo

PRNigeria Opens Application for 2025 Young Communication Fellowship

Troops of Operation FANSAN YANMA

Troops Kill Three Terrorist Leaders in Sokoto Ambush, Recover Weapons

Bashir Adewale Adeniyi Customs Boss

How Customs is Tightening Borders to Stop Illicit Cash Flows – CG Adeniyi 

FACT-CHECK: Did a N10bn Lafia Flyover Collapse Three Weeks After Commissioning in Nasarawa?

NAF combat-ready Unmanned Aerial Vehicle (UAV) operators

NAF Bolsters Battlespace Dominance with New Combat-Ready UAV Operators

PHOTOS: How Nigerian Military’s Coordinated Air and Ground Assault Crushed Terrorists in Warari Operation

Brigadier General Olakunle Oluseye Nafiu, Director General of the National Youth Service Corps (NYSC)

NYSC Seeks Stakeholder Support to Enhance Orientation Exercises

Late President Muhammadu Buhari

Walson-Jack: Buhari Was a Pillar of Integrity in Nigeria’s Public Sector

CDS Musa

CDS Hails ‘Produce for Lagos’ as Blueprint for National Security

Military Troops in Action

Nigerian Troops Neutralize Over 100 Bandits in Decisive Warari Operation

NSCDC, DSS Deepen Synergy to Enhance Security in FCT

Recent Posts

  • Falcon’s WAFCON Glory: Tinubu Committed to Sports Development – Minister
  • NSCDC Mining Marshal Seals Illegal Lithium Mine in Kebbi, Uncovers Alleged ₦500bn Mineral Theft
  • NAF ‘Rattles’ ISWAP Terrorists with Decisive Blow in Lake Chad Region
  • Army, DSS-Backed Hybrid Forces Neutralize 45 Bandits in Niger Operation
  • Anambra Police Bolster Security with New Armoured Personnel Carrier
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Falcon's WAFCON Glory: Tinubu Committed to Sports Development - MinisterNSCDC Mining Marshal Seals Illegal Lithium Mine in Kebbi, Uncovers Alleged ₦500bn Mineral TheftNAF 'Rattles' ISWAP Terrorists with Decisive Blow in Lake Chad RegionArmy, DSS-Backed Hybrid Forces Neutralize 45 Bandits in Niger OperationAnambra Police Bolster Security with New Armoured Personnel CarrierNigeria Customs Partners China on Smarter Ports, Officer Training, ReformsNAF Airstrikes Eliminate ISWAP Fighters, Top Commanders in MarteNigeria Customs Partners China on Smarter Ports, Officer TrainingVON Apologizes for Erroneous WAFCON Report, Cites Possible Security Breach, Identifies CulpritPolice Operatives Eliminate 3 Bandits, Recover 10 AK-47 RiflesTinubu to Honours 210 Ex-NYSC Members for Meritorious ServicesPRNigeria Opens Application for 2025 Young Communication FellowshipNDLEA Arrests Chinese Businessman, 80-Year-Old Grandma in Nationwide Drug Raids IEDPU Praises CP Moshood Jimoh of Lagos Police for Exemplary LeadershipTroops Repel Boko Haram Attack in Gwoza, Recover Firearms
X whatsapp