A United States federal jury has found Paulinus Iheanacho Okoronkwo, a former senior executive of the Nigerian National Petroleum Company (NNPC), guilty of orchestrating a multimillion-dollar bribery deal tied to oil exploration rights in Nigeria.
Okoronkwo, 58, who holds dual Nigerian and American citizenship and also practises law in Los Angeles, was convicted in California after a four-day trial that concluded in August. He now faces as much as 25 years in prison when sentencing takes place on December 1, 2025, before District Judge John F. Walter.
How the Bribery Was Arranged
Court documents show that in October 2015, Okoronkwo received $2.1 million from Addax Petroleum, a Swiss subsidiary of Chinese oil major Sinopec. The funds were sent to the trust account of his law firm under the label of “consultancy fees.” Prosecutors argued successfully that the payment was in fact a bribe intended to secure favourable terms for Addax’s Nigerian oil interests, which were valued in the billions of dollars.
Investigators revealed that Addax executives disguised the deal, misled auditors, and dismissed employees who raised concerns.
Money Trail and Cover-Up
Authorities traced nearly $1 million of the illicit funds to a down payment for a California home in 2017. Okoronkwo also failed to declare the money on his U.S. tax filings and, when questioned by federal agents in 2022, claimed the funds belonged to a client. The jury dismissed that explanation, finding him guilty on all counts: three charges of unlawful monetary transactions, one of tax evasion, and one of obstruction of justice.
Investigations and Prosecution
The case was investigated jointly by the FBI and the Internal Revenue Service’s Criminal Investigation division, with support from the Justice Department’s Office of International Affairs. Assistant U.S. Attorneys Alexander Schwab, Nisha Chandran, and Alexander Su led the prosecution.
Okoronkwo, currently free on a $50,000 bond, had his ties with the NNPC cut in 2024 after his indictment became public, according to former presidential aide Bashir Ahmad.
Implications for Nigeria’s Oil Sector
The conviction highlights ongoing concerns over corruption in Nigeria’s petroleum industry, a sector long plagued by scandals involving both local officials and foreign corporations. Analysts warn the case could further strain confidence in Nigeria’s energy governance and oversight.
