The Nigerian government may have lost about N4 billion in three years, owing to illegal practices and corrupt activities of companies operating in the mining sector in Nigeria, two separate solid minerals audit reports by the Nigeria Extractive Industries Transparency Initiative have revealed.
The many schemes through which these companies have defrauded the Nigerian government include non-remittance of revenues, unlicensed mining and evasion of taxes, illegal practices, and incessant smuggling of solid minerals out of the country.
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