Nigeria’s Petroleum industry stuck in corruption morass

Nigerians may not have seen the end of the recent hullabaloo arising from allegations of misuse of $49.8 billion subsidy fund launched by the now-ostracised Governor of the Central Bank, Mallam Sanusi Lamido, against the Nigerian National Petroleum Corporation, NNPC, and other agencies within the nation’s oil and gas industry.

Ever since the first salvo was launched by the ebullient banker a few months back, several parleys have been held between the NNPC, the CBN, the Ministry of Petroleum Resources, and the Ministry of Finance aimed at papering over the gaping cracks, even as suspicions simmer in the background. And, of course, the CBN Governor has had to deal with some heat, including queries from the Presidency, for blowing his mouth too much. Read more: http://bit.ly/LG4Ijy