So­ma­lia clears Soma Oil on pay­ments to of­fi­cials

Daily Mail - - City & Finance -

AN IN­VES­TI­GA­TION by the So­mali govern­ment into ques­tion­able pay­ments has ex­on­er­ated Soma Oil & Gas, the ex­plo­ration firm chaired by former Tory leader Lord Howard.

The Se­ri­ous Fraud Of­fice launched an in­ves­ti­ga­tion into Soma in July, re­lat­ing to pay­ments made to of­fi­cials and ad­vi­sors in So­ma­lia fol­low­ing a leaked report by the United Na­tions So­ma­lia And Eritrea Mon­i­tor­ing Group.

While this in­ves­ti­ga­tion is on­go­ing, a sep­a­rate in­quiry, launched by So­ma­lia in Septem­ber, has found no wrong­do­ing by Soma.

The in­de­pen­dent com­mit­tee re­viewed the al­le­ga­tions made by the UN mon­i­tor­ing group against the Min­istry of Petroleum and Min­eral Re­sources but found no ev­i­dence it had reached a deal with Soma Oil on a ‘quid pro quo’ ba­sis. It said the min­istry acted in good faith and that there was no favouritism pro­vided to Soma.

But it did find that some funds were used in a man­ner ‘not con­form­ing to the pro­vi­sions of the ca­pac­ity build­ing agree­ment’ and that dis­ci­plinary ac­tion should be taken, with the ac­count­ing and fi­nance de­part­ment re­struc­tured.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.