Settlements

ST-317
Siemens AG (Nigeria Settlement)
Siemens AG
Nigeria
Economic and Financial Crimes Commission; Attorney General
Nigeria
2009
11/22
Germany, United States, World Bank
Legal Person
Criminal
Non-Prosecution Agreement
Criminal Fine, Disgorgement
$46,000,000.00
$46,000,000
Please note that the December 22, 2010 press briefing by the Nigerian Attorney General noted that $170.8 million had been paid in total by companies and individuals; no specific figure was given as to each company. The press statement noted that the sums had been paid by the companies as fines and disgorgement but no breakdown was given.
$46,000,000
Enforcement by "Affected" Jurisdiction (Amount from secondary sources)
Art. 1, Art. 2, Art. 8
Unknown
Unknown
Yes
According to the May 4, 2011 Siemens Company Statement on Legal Proceedings against it around the world, the criminal charges filed against it by the Nigerian Economic and Financial Crimes Commission (EFCC) was dismissed in November 2010, pursuant to a settlement agreement between Siemens and the Nigerian authorities. (Source: Siemens, "Legal Proceedings," May 4, 2011.) Please note that the settlement agreement with the Nigerian government is confidential and not publicly available. However, on December 22, 2010, the Nigerian Attorney General and Minister of Justice stated at a media briefing that the total sum of $170.8 million had been paid by foreign companies to settle bribery charges and/or allegations and that the sums represented fines and disgorgement of profits. (Source: 2010 Ministerial Media Briefing on the Activities of the Federal Ministry of Justice, by Mr. Mohammed Bello Adoke, SAN, Attorney General and Minister of Justice, Annual Press Briefing, 22 December 2010.)