Audit: NEITI Records N71bn Tax Underpayment by Oil Companies
The audit inquiry commissioned by Nigeria Extractive Industry Transparency Initiative (NEITI) to understudy the operations of the country’s oil and gas industry from 1999 - 2004, has posted a report, which charged 11 oil companies of tax underpayment amounting to $509,698m (about N71.36bn) and accused the Nigerian National Petroleum Corporation (NNPC) of inability to account for domestic crude
