Convicted NNPC Senior Official Forfeits $2.5 Million Los Angeles Mansion to U.S. Government
A senior official of the Nigerian National Petroleum Company (NNPC), Paulinus Iheanacho Okoronko, has reportedly forfeited a $2.5 million mansion in Los Angeles, California, to the United States government following his conviction in a high-profile money laundering and corruption case.
According to court documents filed by the U.S. Department of Justice, Okoronko was found guilty of laundering proceeds of bribery and illicit financial transactions linked to multi-million-dollar oil contracts awarded during his tenure at the NNPC.
Investigators revealed that the luxury property a six-bedroom mansion located in Beverly Hills was purchased through a complex web of shell companies and offshore accounts to conceal its true ownership.
The forfeiture order, issued by a U.S. federal court in California, followed months of investigation in collaboration with international anti-corruption agencies, including Nigeria’s Economic and Financial Crimes Commission (EFCC).
The U.S. authorities described the case as part of a broader effort to “track, seize, and repatriate assets acquired through corruption by foreign officials using the American financial system.”
In a statement, a Justice Department spokesperson said,
“This forfeiture demonstrates our continued commitment to ensuring that the United States does not serve as a safe haven for illicit wealth derived from corruption. No matter how sophisticated the concealment, we will follow the money.”
The EFCC is expected to engage with the U.S. government to explore the possibility of repatriating a portion of the recovered assets to Nigeria.
Mr. Okoronko, who had served in senior managerial positions within NNPC’s upstream operations, was said to have diverted large sums through inflated contract payments and kickback schemes between 2016 and 2021. He is currently facing additional charges in Nigeria related to financial misconduct and abuse of office.
The case has once again brought attention to Nigeria’s persistent challenges with corruption in the oil and gas sector, as well as the growing cooperation between Nigeria and international partners in tracing and recovering looted funds.
