Nigeria: Buhari sacks NNPC board
Issue 304
- 10 Jul 2015
| 2 minute read
President Muhammadu Buhari on 26 June dissolved the ten-member board of directors of Nigeria National Petroleum Corporation (NNPC) headed by outgoing petroleum minister Alison Diezani-Madueke. NNPC has long been accused of large-scale corruption, and former central bank governor Lamido Sanusi said in late 2013 that $20bn of oil money had disappeared from its funds. An independent audit ordered by the government in 2014 found only a $1.48bn shortfall, though auditors PwC said they had not had access to the full accounts. Buhari has promised to shed further light on the issue.
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