Forensic audit report mandates NNPC to refund $1.48bn

The forensic audit carried out by PriceWaterHouseCoopers has indicted the National Petroleum Development Company (NPDC) and the Nigeria National Petroleum Corporation (NNPC).

In 2014, the federal government contracted the international audit firm to investigate NNPC, following an allegation by Sanusi Lamido, the then governor of the Central Bank of Nigeria (CBN), that the corporation could not account for $20 billion.

The audit report was submitted to President Goodluck Jonathan on Monday and he directed Samuel Ukura, the auditor-general of the federation, to examine it and release major findings to the government within the week.

In line with the directive, Ukara (pictured, middle) revealed on Thursday that the report required the nation’s oil corporation to refund a minimum of $1.48 billion to the federation account.

In a petition to the presidency in 2013, Sanusi had alleged that NNPC did not remit $49 billion into the federation account.

The issue had generated controversy, and it is believed to be responsible for his unceremonious exit from the exalted office a few months to the end of his tenure, although President Goodluck Jonathan consistently stated otherwise.