Home BUSINESS PriceWaterHouse Finds About N300 Billion Missing, Wants NNPC To Refund It

PriceWaterHouse Finds About N300 Billion Missing, Wants NNPC To Refund It

Nigeria's Minister of Petroleum Diezani Allison-Madueke speaks at a media briefing on a new gas price regime in the capital of AbujaPriceWaterHouse Coopers, hired by Goodluck Jonathan government to audit the account of the Nigerian National Petroleum Corporation (NNPC) has come up with a damning report that more than $1.48 Billion (about N300 Billion) was actually missing.
The accounting Firm, which submitted its report to President Jonathan on Tuesday asked both the NNPC and the Nigerian Petroleum Development Company (NPDC) to refund to the federation account a minimum of $1.48 Billion.
The international audit Firm was last year hired to carry out the exercise following an allegation by the former Governor of the Central Bank of Nigeria, Lamido Sanusi, that $20bn was not remitted to the Federation Account by the NNPC.
The highlights of the report was released by the Auditor General for the Federation, Mr. Samuel Ukura, in Abuja. President Jonathan, whille receiving the report on Tuesday, ordered the Auditor General to tidy up the report for white paper to be issued on it.
Lamido Sanusi, who is now the Emir of Kano, had written a letter to President Jonathan that $49 Billion was not remitted to the Federation Account by the NNPC, leading to his clash with the President and eventual suspension from office.

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