18 October 2021
In 1977, the United States’ Congress enacted the Foreign Corrupt Practices Act (FCPA) which prohibits all US companies and their officials from influencing foreign authorities through bribes, compensations or any other improperly accounted payments.
Almost 50 years later, some companies continue to engage in these prohibited practices by engaging the services of “third parties “or agents” in the foreign countries. These third parties or agents may sometimes be unaware that what they consider routine practices or activities within the scope of their employment are violations of the FCPA.
Unfortunately, most of the FCPA violations in Nigeria have in some way involved the use of Nigerian agents or third parties.
This article highlights the consequences of Nigerian businessmen acting as agents or third parties to US companies and engaging in conduct that could violate the FCPA.
It also seeks to enlighten these third parties on the possible civil and/or criminal sanctions that can result from their acts