The Federal Government entered into deal with Julius Berger over the Halliburton bribery scandal because the Nigerian law dealing with corporate criminality is weak, Minister of Justice and Attorney General of the Federation, Mohammd Bello Adoke has said.
He also spoke of the need to ensure the early resolution of the matter in the greater national interest.
Mr Adoke, who presented the ministerial score card of the Ministry in Abuja yesterday, said the ministry and the Economic and Financial Crimes Commission (EFCC) recovered money and assets worth N191billion form Cecilia Ibru and her associated companies in the year under review.
He said he found it necessary to use the occasion to highlight the approach adopted by the ministry in addressing the prosecution of certain high profile economic crimes committed by some individuals and corporate entities (local and foreign ) against the Nigerian state.
"I refer particularly to the ongoing prosecution of some bank executives and multinational corporations for economic crimes and corrupt practices," he said.
He also said the ministry has commenced the prosecution of individuals and multinational companies indicted in the Halliburton bribery scandals.
"As a result of government's resolve to prosecute those indicted, Julius Berger, Siemens, Saipem, Technip, and Halliburton Inc. were charged to court. To avert prosecution, these companies approached us with various settlement options for consideration," he said.
Easy way out
He said in resolving these cases, the ministry took cognizance of the weakness of Nigeria's penal provisions dealing with corporate criminal liability before adopting international best practices, by emphasising on ‘restitution' that would ensure direct benefit to the Nigerian Government as the ‘victim State'. Accordingly, a total sum of $170.8 million has been paid as penal fines to the Federal Government.
The minister said he directed the commencement of the review of the country's penal provisions to properly address the reality of corporate criminality by providing appropriate sanctions that would ensure deterrence in the country.
Nigeria will be richer with $255 million by the time all the monies the companies agreed to pay are collected, he said, explaining that only $35 million was realised from Halliburton alone and that three, out of the four companies involved in the scandal have so far paid $95 million.
He said about $130 million of these monies are held in banks at Monaco and Geneva, adding that government is doing everything to recover the money from the indicted companies.
Mr Adoke threatened that government will ensure that all those involved in the civil disturbances in Jos and the Boko Haram crises in some states in the North-East geopolitical zone will be prosecuted.
He said the ministry has obtained the files on the alleged extra judicial killings involving some police officers during the Boko Haram crises and has commenced consultation with Borno State Ministry of Justice in order to ensure early prosecution.
Source:http://234next.com/
He also spoke of the need to ensure the early resolution of the matter in the greater national interest.
Mr Adoke, who presented the ministerial score card of the Ministry in Abuja yesterday, said the ministry and the Economic and Financial Crimes Commission (EFCC) recovered money and assets worth N191billion form Cecilia Ibru and her associated companies in the year under review.
He said he found it necessary to use the occasion to highlight the approach adopted by the ministry in addressing the prosecution of certain high profile economic crimes committed by some individuals and corporate entities (local and foreign ) against the Nigerian state.
"I refer particularly to the ongoing prosecution of some bank executives and multinational corporations for economic crimes and corrupt practices," he said.
He also said the ministry has commenced the prosecution of individuals and multinational companies indicted in the Halliburton bribery scandals.
"As a result of government's resolve to prosecute those indicted, Julius Berger, Siemens, Saipem, Technip, and Halliburton Inc. were charged to court. To avert prosecution, these companies approached us with various settlement options for consideration," he said.
Easy way out
He said in resolving these cases, the ministry took cognizance of the weakness of Nigeria's penal provisions dealing with corporate criminal liability before adopting international best practices, by emphasising on ‘restitution' that would ensure direct benefit to the Nigerian Government as the ‘victim State'. Accordingly, a total sum of $170.8 million has been paid as penal fines to the Federal Government.
The minister said he directed the commencement of the review of the country's penal provisions to properly address the reality of corporate criminality by providing appropriate sanctions that would ensure deterrence in the country.
Nigeria will be richer with $255 million by the time all the monies the companies agreed to pay are collected, he said, explaining that only $35 million was realised from Halliburton alone and that three, out of the four companies involved in the scandal have so far paid $95 million.
He said about $130 million of these monies are held in banks at Monaco and Geneva, adding that government is doing everything to recover the money from the indicted companies.
Mr Adoke threatened that government will ensure that all those involved in the civil disturbances in Jos and the Boko Haram crises in some states in the North-East geopolitical zone will be prosecuted.
He said the ministry has obtained the files on the alleged extra judicial killings involving some police officers during the Boko Haram crises and has commenced consultation with Borno State Ministry of Justice in order to ensure early prosecution.
Source:http://234next.com/
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