Forensic audit report indicts NNPC, corporation to refund $1.48bn

The forensic audit carried out by audit firm, PriceWaterHouseCoopers for 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 hired the auditing firm in March last year to investigate allegations of financial mis-appropriation 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 findings from the audit firm on Monday February 2nd.

According to the report, 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.