Audit Query: 107,239 million barrels of crude oil missing- AGF

The report found discrepancies between the amount reported by the NNPC as transfer to the federations account and what was reported by the Auditor General of the Federation.

NNPC Hqtrs, Abuja, Nigeria

The audit report of the Auditor General for the Federation has revealed that the defunct Nigeria National Petroleum Company (NNPC) failed to account for about 107,239,436.00 barrels of crude oil lifted for domestic consumption in 2019.

The AuGF also said that available records from performance report of two depots revealed that about 22,929.84 litres of PMS valued at N7.06 billion pumped to the two depots (Ibadan-Ilorin and Aba-Enugu) between June and July 2019 were not received by the depots.

The report identified discrepancies between the amount reported by the NNPC as transfer to the federations account and what was reported by the Accountant General of the Federation.

This discoveries formed part of six audit queries from the Auditor General for the Federation, Adolphus Aghughu.

It is contained in the Federal Government of Nigeria consolidated financial statements for the year ended December 31, 2019 submitted to the clerk to the National Assembly via a letter dated August 18, 2021 and signed by Mr Aghughu.

It also stated that while the NNPC’s records showed that N1,272,606,864,000.00 was transferred by then corporation, the amount recorded by the Accountant General of the federation was N608,710,292,773.44, showing a discrepancy of N663,896,567,227.58.

The report also said that the sum of N519,922,433,918.46 was transferred to the federation account by the NNPC based on transfer mandates, while demanding that the company provide “reconciliation statement for the difference of N88,787,862,853.96 between SGF’s figure of N608, 710, 296, 772.42 and NNPC’s figure per transfer mandate of N519,922,433,918.46”.

The AuGF therefore stated the Group Managing Director of the NNPC (Mele Kyari) should be asked to explain the discrepancy between the two figures and remit the balance of N663,896,567,227.58 to the Federations Account for face sanction.

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