GLOBAL forwarding and logistics group "Panalpina" has announced that the investigation launched by the US Department of Justice (DoJ) into allegations of bribery violations under the US Foreign Corrupt Practices Act (FCPA) mainly in Nigeria is drawing to a close.
In August 2008 Panalpina announced plans to close its Nigerian operation "because of difficulty doing business there without breaching anti-corruption codes".
An unidentified source in Panalpina told the UK's International Freighting Weekly that it was impossible to achieve customs clearance quickly enough to meet customers' requirements, without "facilitation payments."
Panalpina lost millions in profits and spent more than US$15 million on legal and consulting fees, reported Newark's Journal of Commerce, adding that the Nigeria-based investing group Worldwide Premier Logistics Solution took over Panalpina's Nigerian operations a year ago.
Panalpina said it has commenced settlement discussions with the DoJ into allegations it had bribed Nigerian officials, to bring the investigation to an end, a process that may, the Swiss forwarder said, take several months to finalise.
"Panalpina's investigation into the company's compliance with the FCPA, which has been conducted in coordination and full cooperation with the DoJ, is drawing to a close," it said in a statement."
For almost three years, in depth reviews of operational activities in several countries, among them difficult markets in West Africa and Central Asia, have been conducted.
"As part of its numerous initiatives to strengthen and expand compliance on a global level, Panalpina's Compliance Department has played an active role in critical aspects of the investigation under the oversight of outside counsel and in coordination with the DoJ.
"In the course of these proceedings the DoJ has met with the Compliance Department and has received updates on the company's compliance programmes and their implementation," Panalpina said.
Source : HKSG, 14.12.09.
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