The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Mr. Waziri Adio has explained how the Department of Petroleum Resources (DPR) undervalued eight Oil Mining Leases (OMLs) belonging to the Nigerian National Petroleum Corporation (NNPC). Speaking recently when he visited the Corporate Head...

...2.5b, wants culprits tried ...Senate begins review of report today The Economic and Financial Crimes Commission (EFCC) will soon embark on probe of erring oil firms in Nigeria over unremitted oil revenue to the Federal Government. To ensure that anyone found guilty of misappropriation of the country’s...

The Executive Secretary of the Nigeria Extractive Industries Transparency Initiative, Mr. Waziri Adio, said the Nigerian National Petroleum Corporation withheld $12.9bn revenue between 2005 and 2013. He added that the 2013 Oil and Gas Audit Report revealed that some government agencies like the NNPC and...

 *As Senate sets up 9-member c’ttee to investigate $5.9bn stolen oil Nigeria does not know the quantity of crude oil it produces at the moment, Nigeria Extractive Industry Transparency Initiative, NEITI, has said. The revelation came as the Senate set up a nine-member ad-hoc committee to...

The Senate has summoned the Executive Secretary of the Nigeria Extractive Industry Transparency Initiative, Mr. Waziri Adio, to appear before it in plenary and explain the details of the agency’s 2013 report. The NEITI 2013 report, according to Waziri while submitting a copy of the...

An independent audit of the operational processes and financial payments to Nigeria from companies that mine her solid mineral resources has shown that more of the country’s minerals were exported from her shores without legal permits. The report explained that while it is statutory that...