Nigeria: House Probes Collusion Between NNPC, Swiss and Nigerian Traders

13 November 2013

The House of Representatives Tuesday mandated its Committees on Petroleum (Upstream and Downstream) and Justice to investigate the alleged swindling of the country of billions of dollars by the Nigerian National Petroleum Company (NNPC) in collusion with Swiss-based oil traders and their Nigerian counterparts.

This followed the report of the Berne Declaration, a Swiss non-governmental advocacy organisation, released last week, detailing how NNPC, Swiss oil trading companies and Nigerian traders have been pilfering oil revenue through the sale of crude oil below the market value.

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