Abuja - The House of Representatives has directed its Committees on Petroleum Resources and Justice to investigate allegations that the country lost over N1.1 trillion.
The money was allegedly lost due to shoddy deals between the Nigerian National Petroleum Corporation, (NNPC) and a Swiss oil trading firm, Vitol and Transfigura Commodity Trading Firms.
The move followed a motion brought before the whole House by Abiodun Abudu Balogun, reports Vanguard.
In raising the motion, Balogun said there was a report implicating the Swiss firm.
He said the report entitled “Swiss traders opaque deals in Nigeria “exposed the tactics and tricks employed by both NNPC and the firms in duping Nigeria.
Balogun said his findings showed that specific Swiss firms were involved in the alleged fraudulent activities.
Read more on Vanguard