Nigeria Lawmakers Order Probe of NNPC, Swiss Oil Dealers' $6.8 Billion Scandal

12 November 2013

The House of Representatives has ordered an immediate investigation into a multibillion dollar scheme used by the Nigerian National Petroleum Corporation NNPC, in connivance with Swiss oil dealers, to rip Nigeria of nearly $7 billion.

As earlier reported by PREMIUM TIMES, the schemes, documented in a report titled Swiss Traders' Opaque Deals in Nigerian, released last week Monday by Swiss non-governmental advocacy organisation, the Berne Declaration, involved the NNPC teaming with major Swiss oil trading companies to drain Nigeria of revenue through the sale of crude oil below the market value.

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