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Vol 50 No 13

Published 26th June 2009


Hide and seek

National Assembly politicians are investigating reports that tens of billions of dollars in revenue from the state-owned Nigerian National Petroleum Corporation's (NNPC) foreign subsidiaries, which have accrued over the past decade, are missing from the state's audited accounts. Members of the Assembly's Ad Hoc Committee on the NNPC and its subsidiaries say they are examining the operations of joint ventures with the NNPC such as Duke Oil, Calson (Bermuda), Napoil, Hyson Nigeria, Hydrocarbon Services and Nigermed. The Committee is set to make the accounts of the NNPC's overseas subsidaries a key part of its investigations and plans to summon Group Director Mohammed Barkindo.

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