Afriquenligne (This Day)
10 February 2011
The Federal Government has again been urged to speed up the recovery process of the N5 billion proceeds from the extractive industry, allegedly trapped in some banks in the country. The call was renewed by two national coalitions, the Publish What You Pay Nigeria (PWYP) Coalition, and the Zero Corruption Coalition (ZCC), in a joint statement issued in
According to the duo, the figure (N5 billion), which was revealed by the Nigerian Extractive Industries Transparency Initiative (NEITI) Audit report of 1999-2004, "is to date still trapped in banks, many of which merge with existing banks that are currently in operation today in Nigeria."
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