The British High Commission in Nigeria has disclosed U.K. government had signed a Memorandum of Understanding (MoU) that would enable it to return to Nigeria £210,610 compensation relating to the use of corrupt agents in the oil and gas sector.
This was made known by the British High Commission in Nigeria via a statement issued on Monday.
It said the compensation was made following a successful investigation by the U.K.’s Serious Fraud Office.
The MoU was signed by the Minister for Africa, Vicky Ford, and the Attorney General for Nigeria, Abubakar Malami.
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Vicky Ford said: “The security and defence dialogue held in February 2022 between our two countries reaffirmed both the U.K. and Nigeria’s commitment to work together to tackle illicit financial flows, bribery and corruption.
“The U.K. has a zero tolerance policy to corruption and we hope that today’s signing sends a clear statement about our commitment to this.
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“In a global economy where international trade is vital, it is more important than ever that companies operate with integrity and transparency.
“Illicit financial flows, bribery and corruption stifle economic growth, trade, stable governance and the security of both our countries,”
