6.8 BILLION DOLLARS OIL SCAM TO BE PROBED BY HOUSE OF REPS

 

The House of Representatives has authorised a joint committee to investigate the alleged involvement of the Nigerian National Petroleum Corporation (NNPC) with Swiss oil dealers in deals that cost the federal government billions of dollars. This resolution followed a motion by Abiodun Abudu-Balogun, who drew attention to a Berne Declaration report, a Swiss non-governmental advocacy organisation, released last week, detailing how the NNPC and the Swiss oil trading companies allegedly duped the country of over $6.8 billion. Abudu-Balogun expressed worry that “In spite of all these actions of the National Assembly, there are still allegations of corruption in the Nigerian oil industry. The new report by Swiss non-governmental advocacy organisation, the Berne Declaration, detailing how the NNPC with major Swiss oil trading companies, drain Nigeria of billions of dollars of revenue through the sale of crude oil below the market value.