Audit report indicts NNPC, company to refund $1.48billion to federation account

Available report shows that the forensic audit conducted by the audit firm of PriceWaterHouseCoopers under the directive of the Federal Government on the operations of the Nigerian National Petroleum Corporation [NNPC] has clearly indicated the management of the nation’s oil company, especially with regard to its numerous transactions.

Report says part of the recommendations given at the end of the audit asked the Nigerian Petroleum Development Company, NPDC, the upstream subsidy of the NNPC to refund nearly $1.48billion to the Federation Account for various questionable transactions.

DAILY POST recalls that while receiving the report early this week, President Goodluck Jonathan had directed that the Accountant General of the Federation carry out a review on the report, after which the highlights would be made public, considering that Nigerians are eager to get details of the report.

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