Nigeria Law
Looted Funds

20073.· $182m (DPA)· Chapter I · Money

Halliburton / TSKJ

$182m in bribes to Nigerian officials over LNG contracts. US DOJ Deferred Prosecution Agreement 2009. Nigerian prosecutions stalled.

The TSKJ consortium (Technip, Snamprogetti, Kellogg/Halliburton, JGC) paid $182m in bribes to Nigerian officials between 1994 and 2004 to secure the Bonny Island LNG contracts. KBR/Halliburton agreed to a $579m settlement with the US DOJ in February 2009. Nigerian domestic prosecutions of named officials did not result in convictions.

Sources

  • · US DOJ Press Release Feb 2009
  • · SEC Litigation Release 20897A

What it cost — political & economic reality

The political and economic reality

Nigeria in 2007: who was in charge, the cabinet of the day, the GDP, and the crises that defined the period.

President · Fourth Republic

Chief Olusegun Obasanjo

1999–2007· PDP

National reality

Return to civilian rule, 29 May 1999. Telecoms deregulation (2001) — GSM revolution. Paris Club exit, October 2005 ($30 bn debt relief, Okonjo-Iweala). Pension Reform 2004. EFCC established 2003.

Crises of the period

  • Third Term agenda defeated 2006
  • Niger Delta militancy intensifies
  • ASUU strikes; Sharia introduction in 12 northern states

GDP (World Bank)

$59 bn (1999) → $166 bn (2007)

Cabinet (selected portfolios)

  • Finance

    Adamu Ciroma (1999–2003); Ngozi Okonjo-Iweala (2003–06)

  • Education

    Tunde Adeniran; Babalola Borishade; Fabian Osuji; Chinwe Obaji; Oby Ezekwesili

  • Health

    Prof. ABC Nwosu

Source: Federal Gazette 1999–2007; CBN; World Bank WDI

President · Fourth Republic

Alhaji Umaru Musa Yar'Adua

2007–2010· PDP

National reality

Niger Delta amnesty programme (2009). Yar'Adua became gravely ill in late 2009; the Doctrine of Necessity (Feb 2010) made Goodluck Jonathan Acting President. Yar'Adua died 5 May 2010.

Crises of the period

  • Yar'Adua medical absence + cabal
  • Niger Delta amnesty negotiations
  • Boko Haram founding violence (Maiduguri 2009)

GDP (World Bank)

$166 bn (2007) → $369 bn (2010, post-rebasing trajectory)

Cabinet (selected portfolios)

  • Education

    Igwe Aja-Nwachuku; Dr. Sam Egwu

Source: Federal Gazette 2007–10

Methodology

Tier 1 · primary

Courts. Gazettes. National archives.

Tier 2 · corroborating

OCCRP. HRW. BudgIT. TheCable.

Redline

Wikipedia is never a source.