Information Center: Policy Briefs & Research

OSI prepared a summary of evidentiary materials submitted in May 2013 to the United States District Court for the Central District of California by the U.S. Department of Justice to support its claims for forfeiture of approximately $32 million of property owned by Teodorin Nguema Obiang of Equatorial Guinea, arising from allegations that it derives from the proceeds of extortion, misappropriation, bribery and other criminal conduct.

A federal judge has dismissed the lawsuit, but the Department of Justice may still proceed in the forfeiture case against Teodorin’s Gulfstream jet.

The lack of fiscal transparency in Equatorial Guinea leads to widespread corruption and negative outcomes for most Equatoguinean citizens.

This policy paper assesses Equatorial Guinea’s 2006 Oil Law, how its provisions hinder intra-governmental and public oversight and accountability; and how, as a whole, it fails to promote the type of transparency espoused by the Extractive Industry Transparency Initiative. It also offers succinct and constructive recommendations to the EG government to address the current deficiencies in the law.