Skip to main content

Audit report indicts NNPC, corporation to refund $1.48billion


The forensic audit conducted by audit firm, PriceWaterHouseCoopers on behalf of the Federal Govt to investigate the financial transactions within the Nigerian National Petroleum Corporation, (NNPC) has indicted the management of the NNPC for various questionable transactions.

The federal government had contracted the auditing firm in March last year to investigate allegations of financial impropriety within the corporation after Former CBN Governor, Sanusi Lamido Sanusi raised an alarm that $20m was missing from the coffers of the NNPC.

President Jonathan received the report from the audit firm on Monday February 2nd.

According to Premium Times, part of the recommendations in the audit report includes the Nigerian Petroleum Development Company, NPDC, the upstream subsidy of the NNPC, refund about $1.48billion to the Federation Account for various un-reconciled transactions.

More details of report later.

Comments

Post a Comment

Popular posts from this blog

Season Greetings From The Mandate Health Empowerment Initiative (MHEI)

Merry Christmas and a blissful mentally healthy new year great minds! Please if you are interested in humanitarian, community service Join The Mandate Health Empowerment Initiative Volunteer Team! As we engage Africa in Mental Health Literacy, Psychosocial Support Campaign and Prevent Drugs and Substance Dependency across all sectors! There are more people living with mental illness than people living with HIV AIDS!  Be Involved www.mhfnigeria.org  www.facebook.com/mhf2015 @infomhei just drop a line message of interest. God bless you
Post a Comment
Read more

Falling Oil Prices: LCCI Advises FG To Cut Spending On Refreshments, Sitting Allowance To Save Nigeria’s Economy

The Lagos Chamber of Commerce and Industry (LCCI) has called on the Federal Government to put drastic economic measures in place, in order to help the country cushion the effect of falling crude oil prices. The chamber suggested further scrutiny in the way public funds are spent. In a statement by its President, Alhaji Remi Bello, the LCCI commended the Federal Government for the fiscal and monetary policy measures taken so far to stabilise the macroeconomic conditions and minimise dislocations. It however asked that some very important additional measures be taken. The chamber noted that there are several budget heads that need serious scrutiny, such as, consolidated revenue fund charges, service wide votes and presidential amnesty programmes. According to Bello, others are: capital supplementation, debt service, refreshments and meals, foodstuffs and catering, honorarium and sitting allowance, welfare packages, as well as repairs and maintenance. “All these budget heads ha...
Post a Comment
Read more

NATIONAL ASSOCIATION OF BASSA STUDENTS (NABS) 2017 ANNUAL CONVENTION.

The 28th of December, 2017 is a very special day as Bassa students from far and near gather together to identify and celebrate her rich culture at Government Science Secondary School (GSS Gwagwalada). It was a colourful and beautiful sight to behold as many were dressed in there colourful cultural attire "Kpasa"to match and identify. The event was the annual National Association of Bassa students (NABS) Convention 2017. An annual event that bring together many Bassa son's and daughter's. The event attracted many very important dignitaries from all profession and work of life, Royal father's, some of the finest Bassa academia's and resource person's, the honourable member representing Bassa local government in the state house of assembly etc. It was also a great platform to display and showcase our rich culture and potential to the world. Musical and cultural display was at it best during the event and i bet you, to be on t...
Post a Comment
Read more