The Nigerian National Petroleum Corporation (NNPC) said it has recorded a $1.6bn savings from the arbitration between its flagship upstream subsidiary, the Nigerian Petroleum Development Company (NPDC), and the Atlantic Energy Drilling Concept Nigeria Limited.
Group Managing Director of the NNPC Dr. Maikanti Baru, who said this after he was conferred with honorary fellowship and patron of the Chartered Institute of Forensic and Investigative Professionals of Nigeria (CIFIPN) in Abuja, said the recovery was part of the numerous in-roads the corporation has made in terms of fraud detection, prevention and control.
Baru said under the NNPC anti-corruption committee which he once chaired, the NNPC was able to get all its staff and business partners to know what constitutes corruption and the consequences that follow. The GMD said a lot of sanity has been restored in the system ever since………read more
Source: TVC News
