Nigeria, Feb. 23 -- Nigeria's Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has provided clarification on a recent executive directive requiring certain deductions to be paid directly into the Federation Account, describing it as part of efforts to improve transparency and strengthen domestic revenue mobilisation.

Mr Edun spoke on Friday during a question-and-answer session on the sidelines of the 2026 Technical Group Meeting of the Intergovernmental Group of Twenty-Four (G-24) hosted in Abuja.

He disclosed that a forensic audit of the Nigerian National Petroleum Company is ongoing, as mandated by the Federation Account Allocation Committee (FAAC).

"It is an ongoing forensic audit of NNPC as mandated by FAAC....