NEITI Accuses NNPC Of Withholding $12.9bn

The Nigeria Extractive
Industries Transparency Initiative, NEITI has alleged that the Nigerian National Petroleum Corporation (NNPC) withheld $12.9 billion revenue between 2005 and 2013.
NEITI Executive Secretary, Waziri Adio, disclosed this on Friday in Abuja when he visited headquarters of the Economic and Financial Crimes Commission (EFCC).
He further stated that: “The 2013 Oil and Gas Audit Report revealed that some government agencies like NNPC and its subsidiaries withheld $3.8 billion about N358 billion.
Adio said though NEITI’s job was purely audit and had not power to prosecute but that the agency was ready to collaborate with the EFCC in tackling corruption by reporting serious infractions which violate the nation’s constitution.
“We have existed for 12 to 13 years and nobody has ever been tried under our Act and that is not to say some infractions would not have occurred”, he said, revealing that a lot of findings overtime about missing monies, collusion between operators and government agencies about possibility of money laundering and several economic crimes which the agency is not in position to puch forward.
Adio said the body has an Act that criminalises certain behaviours; of people who fail to co-oporate with it, to give necessary  information on time, stressing that such categories of people were liable to prosecution, jail or fine.
He said however, that deepening relationship with EFCC would help send signals to agencies and companies that relate with NEITI to co-operate with it.
In his reaction, the Acting Chairman of EFCC, Mr. Ibrahim Magu, assured that the Commission was prepared to give quick response in  areas of need and to improve on the existing relationship between the two agencies.