Corruption Scandal: NNPC, govt officials sold 48 million barrels of stolen crude oil worth $2.5bn

A corruption scandal has rocked the Buhari-led administration as Senior officials and the Nigeria National Petroleum Corporation, NNPC, have been reported to be involved in oil theft.

According to an expose led by US-based journalist, Jackson Ode, these people linked to the scandal are said to have to sold off 48 million barrels of stolen Nigerian crude oil and shared the proceeds.

Mexico registered oil and gas trading company, Samano, claims officials of the President, NNPC, the former Chief of staff to the President, Abba Kyari and other representatives of the government, connived to sell about 48 million barrels of stolen Nigerian oil in China.

The officials mentioned are yet to admit or deny the allegations leveled against them in the expose.

The money involved amounted to $2.5 billion dollars based on the arranged price as at the period of sale in 2015.

It was gathered that the NNPC director, Mele Kyari and the president’s chief of staff Abba Kyari had the oil held at different ports in China.

The Mexican company informed the senior officials of the in hope that as a whistle blower, the company would be entitled to the 5 per cent post recovery after entering negotiations to legally purchase the product from the government.

However, through a back door arrangement, the deal was sealed and the crude oil was sold off on the authorization of the NNPC director and the late chief of staff who until his death was on the board of the NNPC.

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