According to a latest report from the World Economic Forum For Africa going on In Abuja, The Federal Government has appointed forensic auditors to carry out a detailed investigation into the activities of the Nigerian National Petroleum Corporation. Punch reports:
The Minister of Finance, Dr. Ngozi Okonjo-Iweala, disclosed this during a debate at the 24th edition of the World Economic Forum for Africa. The forum with theme, “Forging inclusive growth , creating jobs,” is being attended by over 1,500 delegates from about 80 countries.
Okonjo-Iweala explained that an accounting firm, PriceWaterHouse, will carry out the exercise. She said the move followed the allegation by the suspended Governor of the Central Bank of Nigeria, Mallam Lamido Sanusi, that $20bn was not remitted to the federation account by the NNPC. Sanusi had come under attacks following his letter to President Goodluck Jonathan that $49bn was not remitted to the federation account by the NNPC.
But following the controversy which the letter generated, a committee was set up to reconcile the account. While Okonjo-Iweala, who is a member of the committee, had stated that $10.8bn was the amount unaccounted for, Sanusi recanted and said the unremitted fund was $12bn.
Sanusi, however, made another U-turn on the missing oil revenue at the National Assembly when he told an investigative committee that the unremitted revenue by the corporation was $20bn.
But Okonjo-Iweala while speaking at the forum said the exercise would be carried out within a period of 16 weeks under the supervision of the Office of the Auditor General of the Federation.
Speaking during the debate which came up shortly before the opening of the plenary session, the minister said the forensic audit would help unravel the mystery surrounding the $20bn.
Responding to a question by one of the panelists bordering on corruption and transparency, she said, “The issue of holding government to account, I don’t think Nigerians are laying back. We need that transparency and we welcome it.
“The (suspended) CBN governor raised issues that had to do with unaccounted amount from the federation account. “We at the Ministry of Finance have for two years been reconciling these figures with the NNPC to know what they are supposed to remit to the federation account.
“Our feeling is that the only way is to have a forensic audit that would let Nigerians know the issue.
“There is a forensic audit that the government has approved and it is being done by PwC under the supervision of the Auditor General for the Federation and they said they need 12 to 16 weeks to do that and all these would be clarified.”
Hope this is not the beginning of another fuel scarcity.. you know what am talking bou. hmmm.
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