Finance Ministry Blames NNPCL Over $3bn Loan, NLNG Funds
By Anayo Akwitti The Federal Ministry of Finance has blamed the Nigerian National Petroleum Company Limited (NNPCL) and other agencies for its inability to fully account for billions of dollars and other financial transactions flagged in the 2021–2023 Oil and Gas Sector Audit Reports by the Nigeria Extractive Industries Transparency Initiative (NEITI). Permanent Secretary of […]
EFCC Recovers N115bn in Outstanding NDDC Levies
By Anayo Akwitti The Economic and Financial Crimes Commission (EFCC) has recovered over N115 billion in outstanding statutory levies owed to the Niger Delta Development Commission (NDDC) by oil companies between 2021 and 2023. The commission disclosed this on Wednesday while appearing before the Senate Committee on Public Accounts, which is investigating findings from the […]
Senate Panel Gives Four Oil Firms 48-Hour Ultimatum
By Anayo Akwitti The Senate Public Accounts Committee (SPAC) has given Seplat Energy, Network E&P Nigeria Limited and two other oil companies 48 hours to appear before it and respond to queries raised in the 2021, 2022 and 2023 audit reports of the Nigeria Extractive Industries Transparency Initiative (NEITI). The other companies summoned are All […]
Senate Threatens CBN, NDDC, NUPRC Over Hearing Absence
By Anayo Akwitti The Senate Public Accounts Committee has threatened sanctions against the Central Bank of Nigeria (CBN), the Niger Delta Development Commission (NDDC) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) after the agencies failed to appear before its public hearing on the Nigeria Extractive Industries Transparency Initiative (NEITI) audit reports covering 2021 to […]