FEATURED
107 Million Barrels Of Crude Oil Missing – Audit Report
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 disclosure formed part of six audit queries from the Auditor General for the Federation as contained in the Federal Government of Nigeria consolidated financial statements for the year ended December 31, 2019, submitted to the Clerk of the National Assembly via a letter dated August 18th, 2021, and signed by the Auditor General, Adolphus Aghughu.
The report stated that records from performance report of two depots revealed that about 22,929.84 litres of premium motor spirit (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.
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 AuGF therefore stated the Group Managing Director of the NNPC 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.T
(Report, excluding headline: Thisday)
Why Madonna University Expels 500-Level Gen Z Nurses’ Student, Suspends 14
IGP Deploys DIG, 2 CPs to Imo as Police Intensify Search for Abducted Corps Members, 18 Others
If Fuel Price Drops To ₦600, I’ll Dump Atiku And Campaign For Tinubu – Rotimi Amaechi
Customs, Stakeholders Renew Commitment To Blue Economy At Onne Port
Oborevwori Mourns As Delta Elderstatesman, Mike Adiotomre, Dies At 88
USCIS to Increase Asylum, Work Permit Fees From October 16, 2026 — See New Rates
EFCC Secures Final Forfeiture Of 431 Phones From Convicted Chinese Cyber-Fraudsters In Lagos
How Warri Youths Shut Down Effurun With 5km Run For Tinubu, Oborevwori
Man Arrested for Allegedly Macheting Father to Death in Rivers
Tompolo, Otuaro Focused on Socio-Economic Empowerment, Not Critics – Niger Delta Group Replies Ezekiel
Nigeria At 66: Chevron Says 90% Of Workforce Nigerians, Reaffirms Partnership With Nigeria
Made-In-Nigeria: Harvestfield Begins Local Production Of Next-Gen Mosquito Nets In Ogun
Independence Day: Nation-Building Is Our Shared Responsibility – Okowa
Oborevwori Deploys Julius Berger to Repair Collapse Agbarho Section of East-West Road
Nigeria @66: Otti Urges Nigerians to Reject Vote-Selling, Ethnic Sentiments
