A senior executive of the Nigerian National Petroleum Corporation (NNPC) is facing serious legal repercussions in the United States following allegations of bribery and tax evasion, according to court documents obtained by reporters.
Paulinus Iheanacho Okoronkwo, 67, who holds dual citizenship in Nigeria and the U.S., has been indicted on three counts by a jury after an investigation by the Federal Bureau of Investigation (FBI) uncovered evidence suggesting that he received bribes totaling at least $2.1 million.
Okoronkwo, who served as a general manager in NNPC’s upstream department, allegedly used his position to facilitate the evasion of a $2.4 billion liability owed by Addax Petroleum to Nigeria under an oil-lifting contract dating back to 2001.
The indictment, dated January 10, 2024, and filed in the United States District Court for the Central District of California, outlines Okoronkwo’s involvement in a scheme to assist Addax Petroleum in avoiding its financial obligations to Nigeria.
The alleged bribes were purportedly intended to secure favorable treatment for Addax Petroleum amid a dispute over the terms of the contract.
According to court records, Addax Petroleum, a Swiss-based company owned by Sinopec, made payments totaling $5,263,157.89 to Okoronkwo, including an initial installment of $2,105,263.16 in October 2015. The payments were allegedly disguised as consulting fees for services related to negotiating a settlement agreement between Addax Petroleum and NNPC.
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Prosecutors assert that Okoronkwo exploited his dual roles as an NNPC official and a practicing attorney in California to facilitate the illicit transactions.
Despite efforts to conceal the nature of the payments, suspicions were raised within Addax Petroleum, leading to the dismissal of a senior vice president who questioned the legitimacy of a $2.1 million transaction in July 2016.
In addition to charges related to bribery, Okoronkwo is also accused of obstructing justice and evading taxes by providing false information to investigators and failing to report the illicit income on his tax returns for the year 2016.
If convicted, Okoronkwo could face up to 10 years in prison. Authorities are also pursuing forfeiture proceedings to recover assets acquired with the proceeds of the alleged bribery scheme, including a property purchased by Okoronkwo for nearly $1 million in cash in 2017.
The case underscores the ongoing efforts by U.S. law enforcement agencies to combat corruption and financial crimes involving individuals and entities with ties to Nigeria.
It represents the latest in a series of prosecutions targeting illegal transactions originating from Nigeria in the jurisdiction of the Central District of California, including recent actions against unlicensed arms dealers and other perpetrators of financial misconduct.
