President Muhammadu Buhari has cautioned international oil companies (IOCs) and financial institutions as well as international shipping lines against helping and encouraging oil thieves to perpetrate fraud in Nigeria’s oil industry.
Buhari, who spoke at a group meeting of Commonwealth leaders on corruption chaired by Prime Minister David Cameron of Britain at the Commonwealth Heads of Government Meeting (CHOGM) in Malta, believed corruption in the oil sector had also thrived because of the ease of transferring illicit funds abroad and the institutional protection given to corrupt officials in the past.
“We must all work together to compel multinational oil companies, international financial institutions and international shipping lines to stop aiding and abetting corruption in the oil sector in Nigeria,”
Buhari said to the gathering which included the leaders of Australia, Canada, Singapore, Malta, Sri Lanka, Botswana and Trinidad and Tobago.
