Nigeria’s oil sector bleeds up to 92.9% of total illicit flows—NEITI
Fresh report by the Nigeria Extractive Industries Transparency Initiative (NEITI), has decried the jumping yearly losses to Illicit Financial Flows (IFFs) in Nigeria, saying about 92.9 per cent of the total bleeds away from the oil and gas sector. Illicit…
IOCs join NEITI in seeking review of laws on Production Sharing Contracts
Contrary to speculations that jittery has engulfed the spines of leading International Oil Companies (IOCs) over moves by the Nigeria Extractive Industries Transparency Initiative (NEITI) for a review of obsolete laws in the oil and gas contracts, contacted IOCs have…
Nigeria’s earnings from solid minerals on a yearly growing trend—NEITI Report
Latest independent audit report of the Nigeria Extractive Industries Transparency Initiative (NEITI), released recently has indicated that since the coming in the current administration, earnings from Solid Minerals have continued on a steady rise. The report indicated that while the…
Confusion as NEITI insists no evidence of remitting $15.8bn NLNG dividend by NNPC
Contrary to claims by the Nigerian National Petroleum Corporation (NNPC) that it has completed the remittance of $15.8bn dividend payment from Nigeria Liquefied Natural Gas (NLNG), the industry accounting watchdog, NEITI has refuted the claims, saying there is no evidence…
How newly passed PIGB’ll ‘Change’ activities in the Industry—BH FrontPage
The first segment of the Petroleum Industry Bill (PIB), the Petroleum Industry Governance Bill (PIGB) has just been passed by the 8th Senate, Thursday last week. This means that the tortuous journey of the emerging law at the National Assembly…
NEITI begins review of oil earnings from 2015 to 2016 to trace unremitted funds
As part of consolidated moves to track oil earnings diverted in the process of oil exploration in Nigeria between 2015 and 2016, the Nigeria Extractive Industries Transparency Initiative (NEITI), on Thursday gave indication of reviewing the audit of the oil…
