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Tuesday, 15 March 2016

Nigeria's state-claimed oil organization has neglected to pay the legislature $16bn (£11bn) in a suspected misrepresentation, as per an official review.

The Nigerian National Petroleum Corporation (NNPC) gave no clarification to the missing assets, the reviewer general told MPs.

Oil income represents 66% of the administration's subsidizing.

President Muhammadu Buhari has guaranteed to take action against defilement since coming to office last May.Nigeria's previous national bank senator Lamido Sanusi, now the Emir of Kano, was released by the past organization in the wake of saying that $20bn (£12bn) in oil income had disappeared in 2013.

A different review requested under previous President Goodluck Jonathan and did by worldwide bookkeeping firm PwC, found that the NNPC had neglected to pay the legislature $1.48bn between January 2012 and July 2013.

It didn't give an aggregate figure to the amount of income the NNPC ought to lawfully have given over to the treasury.

Be that as it may, the organization said that it couldn't vouch for the respectability of the data it was given when it directed the review.

Nigeria is Africa's greatest oil maker, however the economy has endured as a result of the fall in the cost of oil.


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