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Nigeria's NNPC 'failed to pay' $16bn in oil revenues
Source: BBC
Nigeria's NNPC 'failed to pay' $16bn in oil revenues
15 March 2016 Africa
Nigeria's state-owned oil company has failed to pay the government $16bn (£11bn) in a suspected fraud, according to an official audit.
The Nigerian National Petroleum Corporation (NNPC) provided no explanation for the missing funds, the auditor general told MPs.
Oil revenue accounts for two-thirds of the government's funding.
President Muhammadu Buhari has promised to crack down on corruption since coming to office last May.
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15 March 2016 Africa
Nigeria's state-owned oil company has failed to pay the government $16bn (£11bn) in a suspected fraud, according to an official audit.
The Nigerian National Petroleum Corporation (NNPC) provided no explanation for the missing funds, the auditor general told MPs.
Oil revenue accounts for two-thirds of the government's funding.
President Muhammadu Buhari has promised to crack down on corruption since coming to office last May.
[font size=1]-snip-[/font]
Read more: http://www.bbc.com/news/world-africa-35810599
