Cameroon’s SNH accused of cover-up in Glencore corruption scandal amidst new allegations and discounted oil sales
In a recent development, the Société Nationale des Hydrocarbures (SNH), Cameroon’s national oil company, faces accusations of mishandling and potentially covering up the Glencore corruption scandal. This scandal, which has been described by Whistleblower, Barrister Akere Muna, as one of the largest of the century, has seen Glencore, a global commodities trader, embroiled in serious allegations of corruption.
Two years ago, when the corruption scandal first came to light, SNH claimed that such corruption could not occur due to their strict internal regulations. However, recent revelations from the UK, where the names of former Glencore employees facing charges were disclosed, have led to a surprising shift in SNH’s stance, the former president of the Cameroon Bar Council said.
According to a recent SNH communique, a complaint related to the Glencore case was lodged in a Cameroon court in September 2023. This comes in the wake of the UK’s disclosure, raising questions about why SNH is only now addressing the issue, especially after a board meeting where the focus was solely on the SAVANA case, with no mention of Glencore.
Further complicating matters, documents related to Glencore’s dealings have been transferred from SONARA (Cameroon’s oil refinery) to the Presidency. This transfer has led to concerns about the transparency of the investigation and the handling of crucial evidence.
Barrister Muna is questioning why Cameroonian crude oil was sold at a 30% discount below market price and why some transactions involved even deeper discounts. Notably, oil was sold to Vittol, a company facing corruption allegations in Latin America, at a staggering 70% discount.
Amidst these concerns, the plea agreement between Glencore and the US Department of Justice requires the company to fully cooperate with Cameroonian investigation authorities.
The Barrister has also called on the SNH to suspend all dealings with Glencore, demand full disclosure of any Cameroonian accomplices, and take concrete action locally to address the issue.
The lack of action and transparency from SNH has fueled accusations of a cover-up and a failure to address corruption within Cameroon. Many argue that local authorities must take decisive steps to uncover the truth and hold the responsible parties accountable. As the investigation continues, the public remains hopeful that justice will prevail and that the truth behind these scandalous transactions will be brought to light.
