FG cancels joint venture cash calls with oil coys

  |   Nigeria News

THE Federal Government has finally announced the cancellation of joint cash call with oil companies operating in Nigeria.

The announcement came on a day the government said it had also uncovered heinous acts of frauds in the revenue generating agencies.

Main reason for the cash call withdrawal was principally hinged on the paucity of funds arising from the drastic fall of crude oil prices in the international market, which had made it almost impossible for Nigeria to meet its cash call obligations.

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