VOL. XXXVIII

NO. 01

3-OCTOBER-1994

OPEC

Nigeria Squandered $12bn In Oil Earnings, Says Central Bank Investigator

Between 1988 and 1994, Nigeria's rulers spent $12.2bn that has not beenproperly accounted for, says a report compiled by a committee assigned the taskof reorganizing the Nigerian Central Bank. Mr. Pius Okigbo, chairman of thecommittee on the reform and reorganization of the Central Bank of Nigeria,reported on 28 September to Nigeria's military ruler, General Sani Abache, thatas of June...