Fuel Subsidy: House Of Reps Demands Audit Of Nigerian Company, NNPCL Over Missing N2trillion Assets Under BuhariThe House of Representatives has called for a forensic audit of the Nigerian National Petroleum Company Limited to determine its assets and liabilities as well as its current market value.
The House on December 1, 2021, resolved to set up an ad hoc committee to determine the assets and liabilities of the NNPC before it was fully privatised as prescribed by the Petroleum Industry Act, which was to carry out the exercise within eight weeks. When contacted, the spokesperson for the NNPCL, Garba-Deen Muhammad, said the firm had nothing to hide and would answer any question from the Reps members.
In its report, the committee stated, ‘’From findings, asset worth $64bn was unveiled by Mr President but during transfer, only $58.8bn was transferred, leaving a balance of N2tn unaccounted. NNPCL should be meant to re-assess her accounting system.”
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