Tag Archives: oil scam

Nigeria loses N222 billion in fraudulent oil swaps – NEITI

Nigeria recorded a net loss of over $723 million (about N221.5 billion, at N306.3 to $1) through the Offshore Processing Arrangement, OPA adopted by the Federal Government in 2015 to supply refined petroleum products in the country, the latest Nigeria Extractive Industries Transparency Initiative, NEITI 2015 Oil & Gas Industry Audit Report, has revealed. The controversial arrangement was introduced by ...

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