Glencore’s agreement to pay $50 million compensation, welcome development -ANEEJ

From Femi Oyelola, Kaduna

The Africa Network for Environment and Economic Justice (ANEEJ) has observed that Glencore’s agreement to pay $50 million as a penalty and compensation is a welcome recognition of the company’s obligation to repair the harms caused by its corruption of public officials in Nigeria.
The Executive Director of ANEEJ, Rev. David Ugolor, stated this in a statement made available to the media in Kaduna.
The statement noted that the settlement comes two years after Glencore’s globally coordinated resolution with US, UK, and Brazilian authorities for its alleged vast bribery scheme which spanned more than a decade and affected more than seven countries on two continents.
The state further stated that In Nigeria alone, Glencore and its subsidiaries paid more than $52 million to intermediaries to bribe officials to secure special oil deals.
ANEEJ said as a broad coalition of civil society organizations, they are calling on the Federal Government of Nigeria to publish its $50 million settlement with Glencore International A.G. and ensure these funds are used transparently to benefit communities harmed by corruption.
The statement reads in parts: While Glencore has paid over $1.1 billion in financial penalties globally, justice is not complete without reparations for the corrosive hars of corruption.
“To date, none of the authorities in the UK, US, or Brazil who have issued major fines against Glencore have offered compensation to affected countries like Nigeria, and should urgently take steps to do so.
“Meanwhile, to ensure the credibility of Nigeria’s $50 million compensation deal with Glencore, there must be full transparency about the terms of the agreement announced by the Attorney General, Prince Lateef Fagbemi SAN.
“It is also essential that robust safeguards are put in place to ensure these funds are used to benefit communities affected by corruption.
“We therefore urge the Federal Government to engage with a wide range of stakeholders, including civil society and affected communities, to develop mechanisms for the transparent and accountable disbursement of funds to redress the harms of Glencore’s corruption.
“We have consistently insisted that Glencore and other corrupt foreign companies using bribery and corruption to undermine our Country’s development take responsibility and the Nigerian Government should in line with the Global Forum on Asset Recovery (GFAR) Principles disclose any settlement with Glencore.”