Nigeria: N8 Trillion Oil Revenue Controversy - NNPC, CBN Reconcile Records - N1.74 Trillion Shortfall Unresolved

18 December 2013

The meeting convened to reconcile claims and counter-claims by the Nigerian National Petroleum Corporation, NNPC, and the Central Bank of Nigeria, CBN, over the alleged missing $49.8 billion (about N8trillion) oil revenue resolved a bulk of the disputed figures.

The Minister of Finance and Coordinating Minister for the Economy, Ngozi Okonjo-Iweala, said on Wednesday, at the end of two days of review of records and reconciliation of figures, that about $10.8 billion (about N1.74trillion) revenue shortfall recorded between January 2012 and July 2013 for domestic crude receipts were yet to be reconciled, as the NNPC was still disputing the figure.

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