ABUJA, (Reuters) – Nigerian authorities have launched an investigation to determine whether the government has been short-changed by a state oil company scheme to swap crude for refined products, the company, three oil traders and a security source said.
The Nigerian government may be losing money through opaque contracts in which crude oil worth billions of dollars is given to traders in exchange for refined imports, mainly gasoline, international and domestic watchdogs have said.
Nigeria’s anti-corruption agency EFCC and domestic intelligence service DSS began the investigation last month. A spokesman for the EFCC said he was unable to comment for the moment …Read More
Source:: PM Newspaper