Tag: NEITI

TETFUND received N1 trillion in five years but lacks accounting, operational guidelines – NEITI

The Nigerian Extractive Industries Transparency Initiative (NEITI) wants the federal government to immediately carry out a comprehensive audit of the Tertiary Education Trust Fund (TETFUND). NEITI said the agency received N993.3billion from the Federation Account between 2012 and 2016 but “does not have a comprehensive accounting and operational […]

Buhari Asserts Resolve to Win War Against Corruption, as Magu Calls for Unconditional Repatriation of Africa’s Stolen Wealth

President Muhammadu Buhari has expressed the resolve of his administration to win the fight against corruption, stressing that there was no alternative to it as it remained critical and essential to ensuring the development of critical sectors in the country, and ensuring the drastic reduction of poverty in […]

N28.58 trillion remitted into Federation Account in 5 years – NEITI report

N28.58 trillion was remitted to Nigeria’s Federation Account between 2012 and 2016, according to a report from the Nigeria Extractive Industries Transparency Initiative (NEITI). The remittances, according to the agency’s latest Fiscal Allocation and Statutory Disbursement (FASD) Audit report for the period 2012-2016, came from three major sources: mineral […]

NNPC under remitted N77.92bn in 2017 – NEITI

The Nigerian Extractive Industries Transparency Initiative (NEITI) has disclosed that the Nigerian National Petroleum Corporation (NNPC) under-remitted N77.92billion to the federation account in 2017. The pilot study report on the sale of crude oil, however, noted that there is an ongoing reconciliation of the amount that arose from […]