EFCC Investigates Economic Infractions in NEITI’s Report

By Chineme Okafor in Abuja

The Economic and Financial Crimes Commission (EFCC) has  started to investigate the contents of the 2013 audit report of financial and process flows in Nigeria’s extractive industries prepared by the Nigeria Extractive Industries Transparency Initiative (NEITI) for possible economic infractions.

The EFCC, according to a statement from NEITI on Friday in Abuja, has in this regard set up a joint task force to study the report and identify areas where financial crimes have been committed against the Nigeria by operators in her oil, gas and solid minerals industries.

For example, NEITI had in the 2013 audit of operations in Nigeria’s oil and gas industry flagged off several operational anomalies allegedly committed against nation either by the Nigerian National Petroleum Corporation (NNPC) or other independent operators.