Another round of corruption scandal has rocked the Nigerian National Petroleum Corporation (NNPC), after a former employee of Glencore Commodity Trading Company, Anthony Stimler, pleaded guilty to bribing Nigerian government official to land favourable and mouth-watering oil contracts.
The startling revelation was uncovered by Bloomberg sources, after U.S prosecutors disclosed that millions of dollars were paid as bribes to NNPC and Nigerian government officials, in exchange for more lucrative grades of oil on more favourable delivery terms contracts.
Video details of the court hearing domiciled in the Manhattan Federal Court in U.S revealed that Stimler pleaded guilty to violating the Foreign Corrupt Practices Act and perpetuating money laundering.
In light of the recent development, naijabusiness.com.ng understands that this is the second high profile corruption case involving the Nigerian National Petroleum Corporation (NNPC), following similar claims in the malabu oil scandal, which is currently being investigated by the Federal Government of Nigeria.
READ: NNPC Begins Engagement with Gas Producers to Enhance Supply to Gencos
Report has it that Stimler worked in Glencore’s West Africa desk from 2002 to 2009 and returned for a second spell that lasted between 2011 and 2019.
Glencore Commodity Company is an Anglo-Swiss multinational commodity trading and mining company with headquarters in Baar, Switzerland. It is one of the largest commodity trading companies in the world, with revenues of $142.3 billion in 2020.
Glencore Plc confirmed that Mr. Stimler was a former employee of the company and was willing to negotiate with authorities. However, the company added that: ‘’ The conduct described in the plea is unacceptable and has no place in Glencore.”
