• Fresh fraud uncovered in NNPC, Audit indicates huge amount in USD not remitting to FG in 2013

    Fresh fraud uncovered in NNPC, Audit indicates huge amount in USD not remitting to FG in 2013

    Latest audit report by the Nigeria Extractive Industries and Transparency Initiative has accused the Nigerian National Petroleum Corporation of not remitting $3.8bn and N358.3bn to the Federation in 2013.

    The Chairman of NEITI, Kayode Fayemi, disclosed this on Monday while presenting the 2013 audit reports of the agency in Abuja.

    Citing the audit, Fayemi said some revenues that should have gone to the Federation in 2013 were not made or lost due to a number of reasons.

    He said, ‚ÄúThese revenues were broken […]