Thursday, December 5, 2024

Nigeria’s Exclusion from Glencore Settlement Sparks

The decision by a London court to exclude Nigeria from a multi-million-dollar settlement is fuelling calls to reform international anti-bribery laws, which often leave African victims of corruption hanging in the balance.

READ MORE: Peaceful polls: Jonathan, Ellen Johnson-Sirleaf to attend West African Elders’ Forum meeting

This is such that, earlier this month, the Southwark Crown Court ordered Swiss multinational commodity trading and mining company Glencore to pay £281m ($334m) in fines, confiscated profit and sanctions. The ruling came in June after Glencore pleaded guilty to seven charges of bribing officials at the state oil company, Nigerian National Petroleum Corporation (NNPC) and other energy firms across Africa.

Hot this week

PRESS RELEASE: Lagos to Host 18th Edition of Culturati Festival ‘Freedom Edition’

Lagos State is set to host the 18th edition...

Nigeria Secures $2.2 Billion Eurobonds to Bridge 2024 Budget Deficit

Nigeria has raised $2.2 billion in Eurobonds to address...

Nigerian Study Visa Rejections Surged while UK raked in N68bn from Processing Fees

The United Kingdom has earned over $34 million (₦68...

Tinubu, Macron Forge €300M Partnership to Boost Nigeria’s Infrastructure and Agriculture

Nigerian President Bola Tinubu and French President Emmanuel Macron...

WHO Africa’s Director-Elect Dies at 55, Leaving Legacy of Courage

Dr. Faustine Ndugulile, the incoming regional director for the...

Namibia Elects First Female President Despite Election Controversy

Namibia has made history by electing its first female...

Atiku: Arrest of Dele Farotimi Threatens Nigeria’s Democracy

Former Vice President Atiku Abubakar has denounced the arrest...

Nigeria Seeks South Africa’s Support for G20, BRICS Membership

Nigeria has urged South Africa to back its bid...

Nigeria Secures $2.2 Billion Eurobonds to Bridge 2024 Budget Deficit

Nigeria has raised $2.2 billion in Eurobonds to address...

African Future Leadership Magazine Limited Appoints Amb. Nikisha Daniel to Governing Board

The management of African Future Leadership Magazine Limited under...

Nigeria Workers Strike in FCT, Six States Over ₦70,000 Minimum Wage

Workers in Nigeria's Federal Capital Territory (FCT) and six...

Related Articles

Popular Categories