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Ribadu Report indicts President, NNPC in multibillion Naira oil money scam. DOWNLOAD THE FULL REPORT

The Nuhu Ribadu-led Petroleum Revenue Special Task Force has detailed how the Nigerian government and national oil company, Nigerian National Petroleum Corporation, treat huge oil revenues accruing to the federation as a reserve of money that could be used for illicit purposes without accountability. In its 178-page report, the committee revealed how oil money in the custody of the NNPC ... Read More »

Failure to prosecute Okupe, endorsement of corruption by Presidency– ACN

ACTION Congress of Nigeria has described the failure of the Federal Government to prosecute the Senior Special Assistant to the President on Public Affairs, Dr. Doyin Okupe, for abandoning a N2.3bn contract by Benue State as an official endorsement of corruption. Value Trust Limited, a company owned by Okupe, was said to have abandoned the contract after collecting about N886m ... Read More »

Indicted marketers making subsidy refunds – Govt

SOME of the indicted oil marketers had started making refunds of fuel subsidy payment they got in error, the National Economic Council said on Thursday. At a post-Council meeting press briefing in Abuja, the Anambra State Governor, Mr. Peter Obi, said a report submitted to members by Minister of Finance, Dr. Ngozi Okonjo-Iweala, indicated that some of the indicted marketers ... Read More »

EFCC drops graft case against Odili

Nuruddeen M. Abdallah & Bashiru Abdullahi A case of alleged multi-billion naira corruption against former Rivers State governor Peter Odili and some officials of his administration has been abandoned by the EFCC, Daily Trust’s investigations have shown. This is even as the “perpetual injunction” against arrest secured by Odili in March 2008 still subsists because the Appeal Court in Port ... Read More »

Govt owes us N1.134tn fuel subsidy claims – NNPC

The Nigerian National Petroleum Corporation said on Wednesday it was owed N1.134tn in government fuel import subsidies, debts which would wipe out savings in the Excess Crude Account. The ECA, where the government saves oil revenues over a benchmark price of $72 a barrel, held $6.9bn on July 19, not enough to pay NNPC’s subsidy claims, let alone a string ... Read More »