NNPC, oil firms fleeced Nigeria of $4.4bn - NEITI

...towards a better life for the people VOL. 25: NO. 63034

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TUESDAY, MAY 24, 2016

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NNPC, oil firms fleeced Nigeria of $4.4bn— NEITI •Shell, Total, Mobil fingered in under-payments •Nigeria earned $58bn from oil, gas in 2013 •Under-payments not true —NNPC/NAPIMS •Un-reconciled figures narrowed to less than 1%

By Clara Nwachukwu & Michael Eboh

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BUJA— THE Nigerian Extractive Industries Transparency Initiative (NEITI), yesterday, accused the Nigerian National Petroleum Corporation, NNPC, and other oil and gas companies of shortchanging the country and failing to remit $4.4 billion and N358.3 billion to the Federation Account in 2013. This comes as Lagosbased indigenous chartered accounting firm, SIAO Partners, had been Continues on Page 5

Okonjo-Iweala to appeal judgement on alleged N30trn missing money •P.9 COMMISSIONING: From left, Lagos State Deputy Governor, Dr Idiat Oluranti Adebule; Governor Akinwunmi Ambode of Lagos State; Minister of Power, Works and Housing, Mr Babatunde Fashola; Vice President Yemi Osinbajo and Governor Abubakar Bagudu of Kebbi State during the commissioning of Lagos State Emergency Management Agency (LASEMA) rescue equipment, at Oshodi, Lagos, yesterday. Photo: Bunmi Azeez. STORY ON PAGE 6.

Why govs are still opposed to TSA — OKOWA •P.12 COLUMNIST : We’ll resist oil exploration in Ogoni after clean-up Buhari's presidency: —Rivers monarch, Vibrant support and activist agonising regret•P.17 See Inside C M Y K

ALLEGED N3.9BN FRAUD:

How Badeh bought Fayose's land for •P.44 N650m

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