Friday, February 14, 2014

Nigeria: Senate orders audit to track down oil revenue

Nigeria's Senate is ordering a forensic audit to track down billions of missing petrodollars.

The Central Bank of Nigeria last year reported nearly US$50 billion worth of oil sold by the state oil corporation had not been paid to the government. In December the Finance Ministry reported it had accounted for all but US$10.8 billion.

The Senate Committee on Finance heard Thursday that the unaccounted amount has grown to US$20 billion. Finance Minister Ngozi Okonjo-Iweala told senators

More details here...

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