Senate Sets Up Committee To Probe Allegations Of Fraud In NEITI Report

The Senate has setup an adhoc committee to look into the audit report of the Nigeria Extractive Industry Transparency Initiative (NEITI), following alleged fraud in the Nigeria’s extraction industry to the tune of $12 billion, according to the report.

The Senate made the decision after listening to a presentation by the Executive Secretary of NEITI, Mr Waziri Adio, on Wednesday at the National Assembly in Abuja.

In his submission, Mr Adio gave recommendations on what should be done to stem the tide of the shortcomings experienced in the extraction sector.

Senate President, Bukola Saraki, announced that the committee has four weeks to submit its report to the upper legislative chamber.

He directed the committee to come up with a draft legislation that would help fight corruption and fraud over non-remittances to the Federation Account.