Audit Report Indicts NNPC in Missing Billions: To Refund At least $1.5 Billion

• Billions of dollars looted/missing via illegal kerosene subsidy as raised by former CBN Gov Sanusi were not factored in audit

by Bassey Udo

The forensic audit conducted by the audit firm of PriceWaterHouseCoopers on behalf of the Federal Government on the operations of the Nigerian National Petroleum Corporation [NNPC] has indicted the management of the national oil company for various questionable transactions.

Part of the recommendations include that the Nigerian Petroleum Development Company, NPDC, the upstream subsidy of the NNPC should refund about $1.48billion to the Federation Account for various unreconciled transactions.

More details of report to come.