The oil and gas sector of the Nigeria economy is responsible for 92.9 per cent of illicit financial flows (IFF) with over $217.7 billion said to have flowed out of the country between 1970 and 2008. This is contained in report entitled, “Averting Illicit Financial Flows in Nigeria’s Extractive Industry,” released yesterday by the Nigeria […]
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NEITI: Oil Sector Accounts for 92.9% of Illicit Financial Flows in Nigeria Annually - THISDAYLIVEBy Chineme Okafor in Abuja Nigeria’s oil and gas sector contributes 92.9 per cent of the total amount of illicit financial flows (IFFs) the country records yearly through companies and persons operating in the sector, a report prepared by experts in the Nigeria Extractive Industries Transparency Initiative (NEITI) and Trust Africa has said. Nigeria is …
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Buhari backs oil cut by OPEC | The Guardian Nigeria News - Nigeria and World NewsPresident Muhammadu Buhari has pledged the cooperation of Nigeria to the reduction of oil output to attract higher prices in the global market.Speaking with Mr. Ahmad Qattan, Special Envoy of King Salman Bin Abdulaziz, Minister of State for African Affair.....
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Oil price rises as uncertainty over Nigeria elections, Venezuela tension mounts - Vanguard News NigeriaAS Nigeria’s stock market turn positive with significant capital gains ahead of official conclusion of the general elections, oil prices, yesterday shot up, apparently over uncertainty over the outcome of the election’s as well as the political tension in Venezuela. Also the pressure on oil price appears to be coming from a positive sentiment over United States–China talks.
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Expect better performance in real estate sector in 2019 — Experts - Vanguard News NigeriaGoing by the improvement in the nation’s micro environment and the positive projections for 2019, the real estate sector is expected to ride on the back of these and other strides it ought to make, and put in a better performance in the year 2019.
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Empty supertankers reveal truths about today's oil market - Vanguard News NigeriaThey are slowly plowing their way across thousands of miles of ocean toward America’s Gulf of Mexico coastline. As they do, twelve empty supertankers are also revealing a few truths about today’s global oil market.
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EFCC arraigns 19 men for ‘illegal oil deal’ - The Nation NigeriaThe Economic and Financial Crimes Commission ( EFCC ) Wednesday arraigned 19 men at the Federal High Court in Lagos for...
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Oil Theft: 34 Pirate Ship attacks recorded in 2018 – Navy - Vanguard News NigeriaThe Nigerian Navy has said that it recorded about thirty-four (34) pirate ship attacks in 2018, stating that evasive maneuver from the legal regime have been the bane in the fight against oil theft prosecution.
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