It has been suggested that financial crimes in the petroleum industry in Nigeria is a victimless one whereas, this paper holds a different
view namely that: the major stakeholders (the federal government of Nigeria, international oil companies, and host communities) appear to
be the perpetrators of financial crimes as well as the victims. When one examines the extent of financial crimes in the petroleum industry
in Nigeria coupled with the value of petroleum and its bi- products, the challenges or problems that this paper seeks to highlight becomes
more apparent in relation to the impacts of these financial crimes beyond the petroleum industry because of its effects on the Nigerian
and global economy. Thus, this paper which adopted the doctrinal research methodology sought to examine financial crimes and its
influence in the Petroleum industry in Nigeria.
Key Words: Petroleum Industry, Financial Crimes, Impact; Nigeria.