French oil and gas conglomerate Bourbon finds itself embroiled in a legal battle as eight of its current and former executives face corruption charges in Nigeria, Equatorial Guinea, and Cameroon. The charges stem from allegations that Bourbon bribed Nigerian tax officials to reduce a tax reassessment by a significant margin.
The prosecution claims that $2.7 million was paid in 2012 to Nigerian tax auditors to slash the tax reassessment from $227 million to $4.1 million. However, Bourbon denies these allegations, asserting that negotiations with Nigerian tax authorities were managed by their local partner, Intels, a subsidiary of the Orleaninvest group.
During the trial, Bourbon executives, including Gaël Bodénès and former managing director Christian Lefèvre, expressed their disavowal of corruption practices. Bodénès stated that he had not instructed any bribe payments and lamented that his directives were not followed. Lefèvre vehemently opposed any suggestion of Bourbon’s involvement in corrupt activities, emphasizing that the company would not engage in such behavior.
Former chief financial officer Laurent Renard also distanced himself from the allegations, highlighting his lack of authority over Intels. However, email exchanges presented as evidence during the trial suggest ongoing corruption within Bourbon, implicating company executives.
Despite Bourbon’s assertions of innocence, the court will continue to examine corruption allegations in Cameroon and Equatorial Guinea. An indictment is expected soon, prompting Bourbon to vigorously defend itself against accusations by attributing responsibility to its local partner, Intels.
As the trial unfolds, the spotlight remains on Bourbon’s practices in Africa, with stakeholders eager for further revelations that may clarify the extent of the company’s involvement and shed light on its partnerships in the region.
