$1.48billion to be Refund, as PriceWaterHouseCoopers Audit Report Indicts NNPC



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Last year March, the federal government of Nigeria contracted audit firm, PriceWaterHouseCoopers to investigate allegations of financial impropriety within the Nigerian National Petroleum Corporation, (NNPC)  after Former CBN Governor, Sanusi Lamido Sanusi raised an alarm that $20m was missing from the coffers of the NNPC.

The forensic audit conducted by audit firm has indicted the management of the NNPC for various questionable transactions.

Nigeria President Goodluck Jonathan received the report from the audit firm on Monday February 2nd. According to report by 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.