Nigeria, Nov. 6 -- The Senate ad hoc committee investigating persistent crude oil theft in the Niger Delta has revealed that a forensic audit conducted by independent consultants showed that suspected oil thieves stole more than $300 billion worth of oil, which ought to have been Nigeria's proceeds from crude oil sales.

The committee's chairperson, Ned Nwoko, disclosed this while presenting an interim report of the committee during Wednesday's plenary.

Mr Nwoko, the senator representing Delta North Senatorial District, said the findings were based on a forensic review conducted by consultants engaged by the committee.

He explained that the stolen funds were traced to both local and international transactions.

"The ad hoc committee sho...