Abuja - The forensic audit conducted by the audit firm of PriceWaterHouseCoopers on behalf of the Federal Government on the operations of the Nigerian National Petroleum Corporation [NNPC] has indicted the management of the national oil company, Punch reports.
Part of the recommendations include that the Nigerian Petroleum Development Company (NPDC), the upstream subsidy of the NNPC should refund about $1.48billion to the Federation Account for various unreconciled transactions.
Also read: Jonathan receives forensic audit on NNPC
PriceWaterHouse, 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.
Read more at Punch
- News 24