Breaking News
Login
Pan African Visions

Corruption blights Nigeria’s oil industry

August 19, 2015

By Al Jazeera

Attempts to rein in corruption in Nigeria's oil industry are reportedly falling short, leaving many Nigerians asking where most of the wealth has gone.

The country's newly-elected President, Muhammadu Buhari, has pledged to fight corruption and is investigating claims by the former head of the Central Bank that $20bn of oil revenue went missing from the state oil company.

A report by accounting firm PricewaterhouseCoopers says the national oil company should refund $4.3bn to the government.

But it is not just the oil industry that is plagued by graft.

On a recent visit to Washington, Buhari sought US President Barack Obama's help in retrieving $150bn stolen by corrupt former officials and held in foreign bank accounts.

Zainab Shamsuna Ahmed, the executive secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), joins the programme to talk about Buhari's efforts to fight corruption.

Source:: Al Jazeera

http://bc05.ajnm.me/665003303001/201508/853/665003303001_4424658742001_CTC-clip—Nigeria-Corruption.mp4?videoId=4423625797001

The post Corruption blights Nigeria's oil industry appeared first on African Media Agency.

Source:: http://amediaagency.com/corruption-blights-nigerias-oil-industry/

]]>

Leave a comment

Your email address will not be published. Required fields are marked *

Pan African Visions
South Sudan’s half a peace agreement
August 19, 2015 Prev
Pan African Visions
China, South Africa and the ‘currency wars’
August 19, 2015 Next