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Pwc Report Review: No $20bn Missing, But Quote Of Several Infractions By NNPC - Politics - Nairaland

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EFCC Traces $20bn Missing Oil Cash To Jonathan’s Campaign / HRH Sanusi Speaks Again On The Missing $20b And The PWC Report. / PWC Report Latest:CBN And NPDC Refused To Open Their Financial Statement To PWC (2) (3) (4)

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Pwc Report Review: No $20bn Missing, But Quote Of Several Infractions By NNPC by bugs2: 5:33pm On Apr 28, 2015
Anxious to debunk claims that he has something to hide in relation to the allegation that $20 billion was unaccounted for by the Nigerian National Petroleum Corporation (NNPC) during his tenure, President Goodluck Jonathan on Monday ordered that the full report of PricewaterhouseCoopers’ (PwC) forensic audit of the corporation be released immediately to the public so that all Nigerians will be properly informed on the matter.
But while the audit did not mention any missing funds, only requiring NNPC’s exploration and production (E&P) subsidiary – the Nigerian Petroleum Development Company – to remit $1.48 billion to the Federation Account, the report did raise many pertinent questions.

Briefing State House correspondents on the president’s directive, presidential spokesman, Dr. Reuben Abati said the incoming administration of Buhari was free to review all actions and policies taken by the present administration which it deems necessary.
PwC was contracted by the federal government to carry out a forensic report into the finances of NNPC between January 2012 and July 2013.

This followed the allegation on the missing $20 billion made in January 2014 by the ousted Governor of the Central Bank of Nigeria (CBN), now Emir of Kano, Muhammad Sanusi II, who claimed at a Senate public probe that, among other allegations, NPDC failed to remit $6 billion; while another $3.38 billion was tied to the kerosene subsidy regime.

Prior to that he had alleged that the sum of $49.8 billion had not been remitted by NNPC to the Federation Account from crude oil sales between January 2012 and July 2013, but later revised the sum to $12 billion and/or $10.8 billion, before settling for $20 billion which was premised on allegations not connected to revenue arising from crude oil sales over a 19-month period.

Read full story
http://monitor9ja.com/2015/04/pwc-report-review-no-20bn-missing-but-quote-of-several-infractions-by-nnpc/

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