Nigeria’s Central Bank (CBN) has expanded the scope of inspection services for crude oil exports by assigning Swede Control Intertek Limited to oversee operations at the Cawthorne and Okwok terminals. This allocation supplements the firm’s existing responsibilities and aims to enhance transparency in the nation’s crude oil export processes. The move is intended to improve accountability and potentially reduce revenue loss within the oil sector. Details regarding the financial implications of the expanded contract were not immediately disclosed. The CBN did not specify the reasons prompting the additional allocations at this time. This decision follows ongoing efforts to reform and strengthen oversight of Nigeria’s significant oil industry. The expanded oversight is expected to provide more accurate data on crude oil volumes and quality.
