Reps Uncover N53bn NNPC Insurance Fraud

A House of Representatives committee investigating insurance of government assets yesterday said it has found that the NNPC inflated its premium payment by about N53 billion in the past three years.The House Finance committee said an analysis of documents submitted to it by the Nigerian National Petroleum Corporation show that the corporation padded its insurance premium by $329.4 million (equivalent N53 billion) from 2009 to date. view full text

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