The Nigeria Extractive Industries Transparency Initiative (NEITI) Wednesday alleged that Nigeria National Petroleum Corpooration (NNPC) did not disclose about $22.8 billion dollars in its audited financial statement.
Executive Secretary of NEITI, Mrs. Zainab Ahmed, disclosed this at the ongoing House of Representatives investigation into allegations of connivance of NNPC with Swiss oil dealers to rob the country of billions of dollars.
She said the local refineries were unable to utilise 445,000 barrels of crude per day, explaining that this forces NNPC to engage in alternative transactions by importing.
According to her, the alternative transactions amounted to $22.8 billion that was not disclosed in the corporation’s audited financial statements.
