Frauds & Scandals

BDC Stakeholders Adopts Four Resolutions on ABCON Crisis

By InvestAdvocate Lagos (INVESTADVOCATE)-Bureaux De Change (BDC) operators have adopted four (4) resolutions to resolve the lingering leadership crisis in the Association of Bureaux De Change Operators of Nigeria (ABCON). This is contained in statement made available to InvestAdvocate at the weekend coming on the heels of stakeholders meeting of […]

Special Report: Anatomy of Nigeria’s $20 billion ‘leak’

Feb 06, 2015/Reuters By Tim Cocks and Joe Brock In late 2013, Nigeria’s then central bank governor Lamido Sanusi wrote to President Goodluck Jonathan claiming that the state oil company had failed to remit tens of billions of oil revenues it owed the state. After the letter was leaked to Reuters and a local […]

PWC Forensic Audit: NNPC, NPDC Indicted, To Refund $1.48b To FG

Feb 05, 2015/The Will he Nigerian National Petroleum Corporation (NNPC) and subsidiary, the Nigerian Petroleum Development Company (NPDC) have been indicted by the PricewaterhouseCoopers (PWC), which carried out an extensive forensic audit of the financials of the state-owned oil giant. The corporation will have to refund $1.48 billion to the federal […]