April 26, 2018 / 1:42 PM / a month ago

Nigeria's state oil firm illegally paid $707 mln in fuel subsidies in 2017, Senate probe finds

ABUJA, April 26 (Reuters) - Nigeria’s state oil company illegally paid 216 billion naira ($707.4 million) in fuel subsidies in 2017, according to a Senate probe, the findings of which were released on Thursday.

The investigation by the upper legislative house said that parliament had not approved those payments by the Nigerian National Petroleum Corporation last year, and any further spending on subsidies should be halted with immediate effect. (Reporting by Camillus Eboh Writing by Paul Carsten Editing by Alexandra Hudson)

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