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
The post Corruption blights Nigeria’s oil industry appeared first on African Media Agency.
Source:: http://amediaagency.com/corruption-blights-nigerias-oil-industry/
]]>Nkemnji Global Tech
Featured

Cameroon: Security Beefed up Ahead of CHAN Tournament
Pan African Visions | January 16, 2021 5:56 am

Cameroon: Nkafu Policy Institute Publishes Report on the Effect of BEAC’s Monetary policy
Pan African Visions | January 16, 2021 5:49 am

What happened to Turkana oil exploration, Kenyans ask amid hike in Fuel prices
Pan African Visions | January 16, 2021 3:15 am

OUT NOW! 2nd Edition of “Billions At Play” charts recovery path for African Oil & Gas Sector
Pan African Visions | January 14, 2021 4:59 pm
Recent News
-
Senegal already produces Gas: Investors should look Onshore
January 16, 2021 6:14 am
-
Cameroon: Security Beefed up Ahead of CHAN Tournament
January 16, 2021 5:56 am
-
Cameroon: Nkafu Policy Institute Publishes Report on the Effect of BEAC’s Monetary policy
January 16, 2021 5:49 am
-
What happened to Turkana oil exploration, Kenyans ask amid hike in Fuel prices
January 16, 2021 3:15 am
-
CHAN 2021: A Look at the Major Contenders for the Trophy
January 16, 2021 3:00 am
Leave a Reply