NIMASA RESPONDS TO SENATE QUERY ON $12B CRUDE OIL THEFT SUIT.
The Nigerian Maritime Administration and Safety Agency,NIMASA, has responded to a query issued by the Nigerian Senate over its propriety in the disbursement of $5m as legal fees in respect of a suit instituted against some International oil Companies (IOCs) by the Federal Government in November 2013.
Following a steady decline in its hydrocarbon exports revenue due to ineffective monitoring , the Office of the Attorney General of the Federation had on the directive of the Presidency , directed the Nigerian Maritime Administration and Safety Agency to Institute legal action against the affected IOCs who were involved both in under declaration and under remittance of crude oil exports. According to official sources at the Agency,upon the strength of the said approval, on January 29 , 2014 ,...