Nigerian Stolen Oil Funds: Nigeria, US Investigating Banks, Countries For Corruption
By Morgan Winsor on August 04 2015 10:35 AM EDT
With help from the United States, the Nigerian government announced Monday it was investigating which banks and countries were housing billions of dollars in stolen Nigerian state revenues, a local newspaper reported. Much of the looted monies were linked to Nigeria’s corrupt oil sector, in which 250,000 barrels of crude oil were believed to be stolen each day.
Nigerian President Muhammadu Buhari and his administration have enlisted help from the international community, including U.S. President Barack Obama’s administration, to pinpoint and recover the missing funds. In recent weeks, Nigeria’s new president has moved to strengthen bilateral relations with the United States and to keep his campaign promise of tackling corruption.
“We are getting cooperation from the international community, including information on ships that take crude oil from Nigeria and change direction, or pour their contents into other ships midstream,” Buhari said Monday at the presidential villa in Abuja, the Premium Times newspaper reported. “Some monies were paid to individual accounts. We are identifying the financial intuitions and countries that are involved.”
Buhari asked Obama to help trace the stolen funds before meeting with the U.S. president at the White House in Washington last month. In the oil sector alone, $150 billion was believed to have been stolen, Bloomberg reported. blah blah blah blah blah blah blah blah blah