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$20bn of Nigerian Oil Money Goes Missing Print E-mail
by Tom McGregor    Wed, Mar 12, 2014, 11:56 PM

Don't you hate it when you lose $20 billion from your wallet? Allegations are swirling that $20 billion dollars of Nigerian oil revenues had vanished.

The BBC News reports that, "Nigeria's President Goodluck Jonathan has ordered a forensic audit of the state oil firm following claims that $20bn (£12bn) had gone missing. Suspended central bank governor Lamido Sanusi caused shockwaves last month when he said that $20bn in oil revenue had not been accounted for."

Some have expressed concerns that the $20 billion was laundered by the so-called Nigerian Prince of Emails.

According to the BBC, "Nigeria's oil sector is seen as notoriously opaque and corrupt, correspondents say. Mr Sanusi was suspended last month after he told a senate committee that the Nigeria National Petroleum Corporation (NNPC) had failed to account for $20bn of the $67bn of oil sold between January 2012 and July 2013."

Nigeria holds vast reserves of oil.

To read the entire article from the BBC News, link here:

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