Business Nigeria: $12.7bn Crude Oil Money Undeclared Between 2011 to 2014

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LequteMan

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The Nigerian government has stated that it is owed $12.7bn by a dozen oil firms in undeclared crude oil exports between 2011 to 2014.

Reuters say this is according to court documents which are part of a lawsuit the Nigerian government filed on June 7 against one of the companies - Nigerian AGIP Oil Company, a subsidiary of Italy's ENI.

It's unknown how many of the companies Nigeria is suing, although Chevron and Total have previously been named as defendants.

The suit alleges that companies exported a total of 57 million barrels oil crude oil to the United States over the period and did not declare all of this to Nigerian government as required by law, according to the documents.
 

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