The Untold Story of the $10.8 Billion Tax Evasion and Fraud By Chevron Nigeria Limited and Its Associated Companies



On 1st July, 2005, ABZ Integrated Limited, a Nigerian company based in Abuja broke the news of the $10.8 billion tax evasion and fraud by the Nigerian branch of the Chevron Corporation of Houston, Texas. (see annexure 1b).

Following the disclosures, ABZ was duly engaged by the Economic and Financial Crimes Commission (EFCC) of Nigeria under the Executive Chairmanship of Mallam Nuhu Ribadu (see annexure 1a) as a consultant for the recovery of the unpaid taxes from Chevron Nigeria Limited. The Nigeria Extractive Industries Transparency Initiative (NEITI) under Dr. (Mrs.) Obiageli Ezekwesili acknowledged the engagement and financial entitlement of ABZ Integrated Limited (see annexure 5b).


In the last quarter of 2005, the House Committee on Petroleum Resources (Upstream), under the chairmanship of Dr. Cairo Ojougboh, had a public hearing on the allegation of $10.8 billion tax evasion and fraud against Chevron Nigeria Limited. And in September 2006, the Chairman vindicated ABZ and confirmed that Chevron evaded tax as alleged and was ordered to refund the sum of $492 million. NEITI’s auditors also validated the claims of ABZ. But Chevron has only refunded a fraction of the total Petroleum Profit Tax (PPT) evaded, without paying the penalties required by PPT Act.And ABZ has not been paid its entitlements since Chevron has refunded the sum of $866 million of the Petroleum Profit Tax (PPT) evaded so far.

This is the untold story of the whole financial scandal as reported by Fidelis Uzonwanne, the Managing Consultant of ABZ Integrated Limited.

~ Nigerians Report


For copyright reasons, you can only see all the over 70 exhibits on Nigerians Report for the proof of this case.
http://www.nigeriansreport.com/2010/03/untold-story-of-108-billion-tax-evasion.html

annexure 1a

ANNEXURE 5b

This is demoralising.

Nigeria is being plundered by the multinational oil companies and with the help of their Nigerian accomplices to worsen the bad state of the Nigerian crisis.

Many Nigerians will rather kiss the butt of the Whiteman than say the bitter truth.

TAX EVASION is a big crime in the United States and Chevron would not dare to do in America what they have done in Nigeria.

This is an epic scandal.

One of the receipts of the PPT paid by Chevron Nigeria Limited.
There over 70 exhibits more.