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Stock impact report

Nigeria Senate committee says NNPC amount probed has doubled to $2.2 bln [Reuters]

Royal Dutch Shell PLC Royal Dutch Shell PLC American Depositary Shares (Each representing two Class B Ordinary Shares) (RDS.B) 
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Company Research Source: Reuters
Nigeria Senate committee says NNPC amount probed has doubled to $2.2 bln | Reuters 2 Min Read ABUJA, Nov 15 (Reuters) - A probe by the Nigerian Senate into whether state oil firm NNPC improperly withdrew money has expanded with the amount under investigation doubling to over $2.2 billion, a committee said on Wednesday. The Senate last week voted to probe withdrawals of $1.05 billion by Nigerian National Petroleum Corporation (NNPC), from NLNG, a venture owned by the state oil firm and foreign energy companies, without approval. The committee led by Senator Bassey Akpan, chairman of Senate committee on gas, said on Wednesday it had found more withdrawals in excess of what it set out to investigate. Akpan asked NNPC and central bank officials to provide documents to back up the withdrawals, carried out at various periods between 2016 to 2018. NNPC officials said documents were being assembled ahead of next hearing due on Nov 22 and declined to comment further. Nigeria’s Premium Times ne Show less Read more
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