The Siemens Bribery Scandal

The Siemens Bribery Scandal in Nigeria was part of a larger global corruption scheme involving the German conglomerate Siemens AG. Siemens' telecommunications unit was involved in widespread bribery practices to secure contracts in various countries, including Nigeria.

Key Points

• The bribes in Nigeria were part of Siemens' larger scheme involving at least 4,283 payments totaling approximately $1.4 billion used to bribe government officials worldwide.

• Siemens used a complex system of secret bank accounts and shadowy consultants to facilitate these bribes.

• The bribery scandal in Nigeria primarily involved the telecommunications sector, with payments made to secure government contracts.

The Siemens Bribery Scandal, including its Nigerian component, ultimately resulted in Siemens paying $1.6 billion in fines, the largest for bribery in modern corporate history up to that point.