FORENSIC AUDIT REPORT INDICTS NNPC; TO REFUND $1.48BILLION

The Nigerian National Petroleum Corporation and the Nigerian Petroleum Development Company on thursday were indicted by forensic auditors Price Water House Coopers who investigated the allegation of unremmitted funds into Federation Account against them.

Both organisations were told to refund to the federation account a minimum of $1.48billion representing about N275billion at the rate of Central Bank of Nigeria Interbank exchange.

Price Water House Coopers was last year hired by Federal Government to carry out forensic audit of NNPC following allegation by the former Governor of Central Bank of Nigeria, Lamido Sanusi that  49 billion naira was not remitted to Federation Account by NNPC.