What will Nigeria do when the Oil is Gone?
It should be of interest to the Umaru Yar'Adua’s Administration and the Economic And Financial Crimes Commission (EFCC) , that the International Arbitration of Gulf-Petro-Petrec International (Gulf-Petrec) vs Nigerian National Petroleum Corporation (NNPC) Case, is “an Icon of Corruption in International Arbitration”. It is no surprise to anyone that NNPC’s top Officials are the instigators of the bribery and corruption of an International Arbitration. What is a surprise to everyone is that the NNPC Officials, who are usually the one’s receiving a bribe are, in this instance, the ones paying a bribe. Even more surprising is that the EFCC has abstained from prosecuting this case when bribery and fraud prevention is allegedly Number One on the agenda of President Yar'Adua and the EFCC. Why has the prosecution of these criminals been omitted even when documentary evidences before a U.S court have shown the culpability of the NNPC officials?
This Gulf-Petrec v NNPC case has been the topic of the newspapers and internet news services, around the world, since Gulf-Petrec and NNPC appeared at an “Oral Argument Hearing” at the 5 th Circuit Court of Appeals in New Orleans, Louisiana, USA on September 6 2007. The decision by the court is presently pending and will most likely be a devastating decision against the NNPC, thus causing them to face Racketeering charges resulting in treble damages in the US for bribing a Panel of arbitrators comprised of three corrupt International Arbitrators” led by Arbitrator Andrew W.A. Berkeley and Panel member Ian Meakin both of the United Kingdom and a Professor of International Law, Hans Van Houtte, of Belgium.
Thus far the EFCC has ignored the criminal conduct of the officials at NNPC and the corruption of this International Arbitration Panel. The neglect by the EFCC further confirms the theory that NNPC “does what it takes” and ‘anything goes” to resolve a dispute in favor of NNPC. Condoning such conduct sets a bad example for outside investors that might be interested in pursuing business opportunities in Nigeria. Outside investors expect resolution of disputes through arbitration in a neutral environment instead of a possibly hostile foreign court.
International investors fear the consequences of investing in corrupt countries such as Nigeria, but their ability to have a straightforward alternative to litigation such as arbitration that is seated outside the country of Nigeria, provides the security necessary to attract these investors to the NNPC and eventually other business opportunities outside the oil sector of Nigeria.
Nigeria depends on foreign investment, and not just in the oil/gas sector. In order to do business outside the oil/gas sector it will also require an adequate dispute settlement procedure. Unless Nigeria wants to consent to a foreign court's jurisdiction over these investments, international arbitration has to be the only alternative way to go. But presently, no one will conclude such a transaction, with Nigeria, given the apparent practice of the Nigerian government to subvert, suborn and corrupt international commercial arbitration institutions. .
On 18 November 2007 the Nigerian Publication “Leadership Sunday” authoritatively revealed that Chief Daukoru, former minister of state (petroleum) under Obasanjo, is billed to appear in court on November 22, even as his former special assistant, Temipreye Sylva, now governor of Bayelsa States will face the court on November 20.”
“Leadership Sunday” also revealed that “Sources at the EFCC confirmed that following widespread outcry against the handling of the country's oil revenue, and the tenacious hold on the petroleum portfolio by former President Obasanjo during his eight-year reign, the anti-graft commission has been compelled to ask certain pertinent questions as they affect the roles of some individuals in alleged underhanded deals. Further included in the ”Leadership Sunday” article was that “Findings reveal that the EFCC is interested in knowing the roles played by the former minister in assisting Obasanjo, even as it intends to know the facts behind inexplicable disappearance of oil revenue.”
On Monday 19 November 2007, the largest Nigerian publication, the “Punch Newspaper”, published the following;
“President Yar’Adua, in a statement by his Special Adviser on Communications, Mr. Olusegun Adeniyi, assured Nigerians that anybody found guilty of crime would be punished. He also restated his vow that any government official that abused his or her oath of office would not escape the wrath of the law. And;
“The attention of President Umaru Yar‘Adua has been drawn to media reports of the alleged bribery by an international telecoms company (Siemens) of some past Nigerian public officials and the President wishes to assure the nation that anybody found culpable in the scandal would face the full wrath of the law. “The President has, therefore, directed all the relevant security agencies to thoroughly investigate the allegations and take appropriate legal actions against anybody implicated in corrupt practices. “The President also wishes to assure all Nigerians that in the new nation that we seek to build under his watch, any public official found to have abused his or her oath of office will not go unpunished”. The President further assures that in this Siemens scandal, as in all cases that border on good governance and transparency, there will neither be sacred cows nor a cover-up for anybody found culpable of breaching the law. ”
There is no doubt that the people of Nigeria and potential international investors would be very interested in knowing more about “other alleged underhanded deals”, such as where the $50 million dollar bribe came from that was paid to a Panel of three international arbitrators to corrupt the Gulf-Petrec vs NNPC international arbitration ruling in favor of the NNPC after liability was confirmed against the NNPC by a Partial Award but was mysteriously reversed in the final award after damages of $1.7 billion dollars had been proven by Gulf-Petrec.
Nigerians should also like to know “the roles played by Jackson Gaius-Obaseki while acting as NNPC’s GMD and Chief Sena Anthony, the present Group General Manager, Corporate, Legal and Secretariat, of the NNPC, and the corrupt Nigerian Statesman Prince Bola Ajibola in this bribery and how much they received, personally, from the $50 million dollars?
Are these individuals “above the law”? “Why is there nothing published concerning an ongoing investigation into these allegations”? It seems that there is a double standard being practiced by the EFCC in failing to prosecute or even investigate these individuals that seem to be operating “above the law”. After all of the evidence, against Sena Anthony, she continues on as Group General Manager, Corporate, Legal and Secretariat, of the NNPC. She must be above the law.
The attention of President Umaru Yar‘Adua and the EFCC to the Siemens AG case is admirable, but the same level of attention should be drawn to media reports of the alleged bribery of an international panel of arbitrators by a past Nigerian public official Prince Bola Ajibola and well as his co-conspirators Jackson Gaius-Obaseki while acting as NNPC’s GMD and the present Chief Sena Anthony, Group General Manager, Corporate, Legal and Secretariat, of the Nigeria National Petroleum Corporation, who conspired to and bribed arbitrators Andrew W.A. Berkeley, Ian Meakin and Professor Hans Van Houtte to render a favorable final award and who have all been charged with the bribery and collusion in Switzerland and the United States. A full scale investigation of this allegation should be conducted by the EFCC as ordered by Mr. President Yar‘Adua and the Gulf-Petrec vs NNPC case should be investigated with the same enthusiasm as other instances of fraud committed by Nigerian government officials such as the present Siemens AG scandal that is all over the newspapers.
In step with President Yar‘Adua’s promises, the Federal Republic of Nigeria must show international investors that it has their best interest at heart by settling debts owed to investors such as Gulf-Petrec as a result of bribery and fraud by the officials of its appendage NNPC. It has been indicated to Pointblanknews.com that Gulf-Petrec would gladly cooperate with the EFCC or a Special Appointed Committee of Investigators appointed to investigate and to prosecute the criminals that continue to ruin the image of Nigeria for profit at the expense of Gulf-Petrec.
Settlement of this case and the prosecution of these Nigerian traitors, corrupt arbitrators and lawyers would send a message to the world that contrary to Nigeria’s reputation as being “the most corrupt country in the world”, its new President Umaru Yar'Adua is not just another corrupt Nigerian President, but a man of his word that is doing his best to prepare Nigeria for the day when there is no longer any oil and the country is forced to survive on its own commercial merits, and that the Country of Nigeria will welcome foreign investment.
So, if Nigeria wants continued access to outside international investment, with an appropriate international arbitral process, then it has to clean house and disavow previous rogue practices or the country will die a miserable economic death soon after the oil is gone.
Why not stop it now, President Yar'Adua, and build the future you have promised the Nigerian People?