• Wednesday, July 24, 2024
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PWC submits NNPC foresic report recommend reforms


The Federal Government has received the report of the forensic audit carried out on the Nigerian National Petroleum Corporation’s (NNPC) account.

The report which was submitted to President Goodluck Jonathan at the Presidential Villa, Monday, by Uyi Akpata the country senior partner of the PriceWaterHouseCoopers (PWC), called for reforms in the sector.

Details of the report were however not revealed but the president said the report  would be moved to the Auditor General’s table, within the week, where key highlights would further be made public as the “ media will want to know the key findings vis a vis the senate findings and figures being bandied around in the newspapers, but Nigerians are interested”.

A forensic audit had been initiated in the wake of allegations of missing funds belonging to the Federation Account in the NNPC custody.

Edo State Governor Adams Oshiomhole had alleged that $30 billion was missing from the Excess Crude Account.

The allegations came on the heels of the claim by a former governor of the Central Bank of Nigeria (CBN)  Lamido Sanusi Lamido, that $20 billion was missing from the Federation Account.

The Presidency had on March 12 2014 announced through a statement issued by the president’s spokesman, Reuben Abati, that it had authorised the engagement of reputable international firms to carry out the forensic audit of the accounts of the Nigerian National Petroleum Corporation.

It further commissioned the forensic audit  in reaction to the claim made by the then suspended governor of the Central Bank of Nigeria, Lamido Sanusi, that his decision to expose corruption in the management of oil revenue led to his suspension.

The presidency had however made it clear through the statement that Sanusi’s suspension had nothing to do with an attempt to cover up his allegation that funds due to the Federation Account were unaccounted for by the NNPC.

The audit firm had earlier prepared an interim report which the President said he rejected, as the subject matter needed to be completely dealt with.

The recent statement by a former central bank governor, Chukwuma Soludo, may have forced government to receive the report in public, however not giving insights on any part of it.

The President noted that as part of the recommendation made, the Petroleum Industry Bill, would correct the lapses in the sector.

“ Indeed you mentioned the issue of reform in the sector, everybody knows that the sector needs to be reformed, by the time we go through the petroleum industry bill and pass it into a law, most of these lapses will be corrected and the misconception will be properly addressed” he said.

Elizabeth Archibong