Not less than 12 top executives of four multinational oil firms have been arrested by the Economic and Financial Crimes Commission, EFCC in separate raids between Tuesday and today, Thursday.
The raids followed a fresh information that the oil serving firms were involved in offering bribes worth over $100 million to some Nigerian officials.
The companies whose top executives are presently facing interogation over the bribery scam include Tidewater Incorporation, Transocean Incorporation, Noble Incorporation and Murphy Shipping Company, all located in Lagos State.
Some of those arrested in the raids include David Ronald Davies, Dave Arthur, Ajala Pius, and Abayomi Samuel (Noble Inc). Others are Richard Hart, Arthur Mcgimsy, Olatokunbo Kuforiji ( Tidewater Inc) as well as Mojisola Agbabiaka (Murphy Shipping Coy) and Gabriel Oramasionwu (Trans ocean Inc).
The travel documents of some of the executives have already been seized pending the conclusion of investigations.
The EFCC had last year intensified investigations into multi-million dollars bribery cases involving multi-national companies and their Nigerian accomplices.
While charges have been filed against some of the accused, others have taken the option of out of court settlement resulting in payment of fines totalling over N25 billion.