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Graft

Nigerian minister says $6.8 billion of public funds stolen in seven years

Minister of Information Lai Mohammed briefs the media on the town of Bama liberated from Boko Haram, during a news conference in Abuja, Nigeria, December 8, 2015. PHOTO BY REUTERS/Afolabi Sotunde
Minister of Information Lai Mohammed briefs the media on the town of Bama liberated from Boko Haram, during a news conference in Abuja, Nigeria, December 8, 2015. PHOTO BY REUTERS/Afolabi Sotunde
18/01/2016

ABUJA (Reuters) - Fifty-five people who were government ministers, state governors, public officials, bankers and businessmen stole 1.34 trillion naira ($6.8 billion) from Nigeria's public purse over a seven-year period, the information minister said on Monday.

Nigeria's Buhari orders probe of 38 people, firms over arms deals

Nigeria's President Muhammadu Buhari (C) stands at the opening of the 48th ordinary session of ECOWAS Authority of Head of States and Government in Abuja, Nigeria, December 16, 2015. PHOTO BY REUTERS/Afolabi Sotunde
Nigeria's President Muhammadu Buhari (C) stands at the opening of the 48th ordinary session of ECOWAS Authority of Head of States and Government in Abuja, Nigeria, December 16, 2015. PHOTO BY REUTERS/Afolabi Sotunde
15/01/2016

ABUJA (Reuters) - Nigerian President Muhammadu Buhari has ordered the Economic and Financial Crimes Commission to probe 38 former military chiefs, officers and companies for alleged arms procurement fraud, a presidency statement said on Friday.

Switzerland and Nigeria discuss return of $300 million stolen by Abacha

Late Nigerian military leader General Sani Abacha is shown in this September 1993 file photo. PHOTO BY REUTERS
Late Nigerian military leader General Sani Abacha is shown in this September 1993 file photo. PHOTO BY REUTERS
By Camillus Eboh
13/01/2016

ABUJA (Reuters) - Authorities in Switzerland are in talks to arrange the return to Nigeria of $300 million confiscated from the family of its former military ruler, Sani Abacha, Nigeria's foreign minister said.

IMF chief welcomes Nigeria's anti-corruption drive, urges diversification

International Monetary Fund Managing (IMF) Director Christine Lagarde (C) is escorted by Nigeria's Finance Minister Kemi Adeosun (L) and Nigeria's Central Bank Governor Godwin Emefiele (2nd R) upon arriving at the Nnamdi Azikiwe International Airport in Abuja, Nigeria, January 4, 2016. PHOTO BY REUTERS/Stephen Jaffe
International Monetary Fund Managing (IMF) Director Christine Lagarde (C) is escorted by Nigeria's Finance Minister Kemi Adeosun (L) and Nigeria's Central Bank Governor Godwin Emefiele (2nd R) upon arriving at the Nnamdi Azikiwe International Airport in Abuja, Nigeria, January 4, 2016. PHOTO BY REUTERS/Stephen Jaffe
05/01/2016

ABUJA (Reuters) - The head of the International Monetary Fund endorsed on Tuesday Nigeria's efforts to tackle corruption, while saying the country needed to reduce its reliance on oil, sharp falls in the price of which have crippled its economy.

Oil proceeds went into personal accounts, Nigerian president says

Nigeria's President Muhammadu Buhari (C) stands at the opening of the 48th ordinary session of ECOWAS Authority of Head of States and Government in Abuja, Nigeria, December 16, 2015. PHOTO BY REUTERS/Afolabi Sotunde
Nigeria's President Muhammadu Buhari (C) stands at the opening of the 48th ordinary session of ECOWAS Authority of Head of States and Government in Abuja, Nigeria, December 16, 2015. PHOTO BY REUTERS/Afolabi Sotunde
By Alexis Akwagyiram
30/12/2015

LAGOS (Reuters) - Nigerian authorities have seen documents suggesting the proceeds from past crude oil sales were diverted to personal accounts rather than reaching government coffers, President Muhammadu Buhari said in a wide-ranging interview on Wednesday.

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