Saturday, 26 September 2015 18:31

Alleged missing $20 billion oil fund: NNPC to carry out fresh forensic auditing

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The Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Dr. Emmanuel Ibe Kachikwu, has disclosed his plans to revisit the issue of the missing $20 billion NNPC fund, in accordance with President Muhammadu Buhari’s anti-corruption war. Kachikwu said the NNPC is bringing back the auditors to do a full audit of NNPC account, adding that the last audit was done in 2010.

It would be recalled that nation was mired in controversies recently following public bashing and accusations of unaccounted funds, in excess of $20 billion as alleged by former Central Bank of Nigeria, CBN Governor, Mallam Sanusi Lamido Sanusi. The NNPC boss further noted that the nation's oil industry has not fully responded to Sanusi’s allegations in public, and the terms of reference, TOR, for the recent PricewaterHouseCoopers, PwC audit did not empower the auditors to probe the strategic alliance agreements, SAAs, the NPDC entered into with its partners between 2010 and 2012, in detail.

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