NNPC Accounts Audit Started

NNPC Accounts Audit Started

Nigerian National Petroleum Corporation account auditing has started as more than 20 auditors from Office of the Auditor General of the Federation (AGF) will check the spending at the state-owned petroleum corporation.

After suspended governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi alleged $20 billion fraud at the state-owned petroleum corporation. The senate passed a resolution to audit the accounts of NNPC.

Ngozi Okonjo-Iweala, the Minister of Finance, asked for foreign audit to uncover the issue of missing funds.

Meanwhile, Nigerian Extractive Industries Transparency Initiative has accused NNPC of another $22 billion fraud. The management has been accused of shielding away the money from auditors during 2009-2011.

The communication between Central Bank governor and President Goodluck Jonathan was leaked to the media. The issue took political turn as the governor was asked to step down from his post.

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