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    This Day Live: NEITI Offers to Help NNPC Trace $11.6bn Unremitted NLNG Funds

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Summary

The Nigeria Extractive Industries Transparency Initiative has offered its help to NNPC's newly appointed group managing director to locate missing NLNG funds

by: Erica Mills

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Press Notes, Africa

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This Day Live: NEITI Offers to Help NNPC Trace $11.6bn Unremitted NLNG Funds

The Nigeria Extractive Industries Transparency Initiative (NEITI) on Sunday said that it will give the new Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu, all institutional supports needed to recover a certain $11.6 billion revenue from the Nigerian Liquefied Natural Gas (NLNG) which NNPC allegedly failed to remit to the Federation Account.

Similarly, it indicated that it will present to the newly constituted presidential advisory committee against corruption particulars of oil and gas companies that are operating in Nigeria but still owing an outstanding $7 billion crude oil revenue to the country over the years as underpayments and under-assessments.

Read the full article HERE.

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