The Nigeria Extractive Industries Transparency Initiative (NEITI) yesterday declared that about $25.3billion of the nation’s oil monies was missing.
The NEITI’s executive secretary, Hajiya Zainab Ahmed, disclosed this while briefing Kaduna State governor, Mall. Nasir El-Rufai, in Kaduna.She said funds from crude Product Swap amounting to $866 million dollars was lost from 2009 – 2011 and $8, 243 million in 2012.
The NEITI boss, who gave the breakdown of how the monies were stolen said, between 2009 – 2012 alone, about 160 million barrels of oil valued at 13.7 billion dollars was stolen. She also said, while subsidy payment from 2005 – 2012 captured that 11.631 billion of dollars have been paid to the NNPC, there was no evidence of the money being remitted to the federation account.
