Missing $2.04b: Group clears NNPCL of wrongdoing

The National Civil Society Council of Nigeria (NCSCN) has described as ‘unfounded’ the allegations of corruption levelled against the management of the Nigerian National Petroleum Company Limited (NNPCL) concerning the missing $2.04b and N164b in oil revenues in the 2020 audited report by the Auditor-General of the Federation.

Executive Director of NCSCN, Blessing Akinlosotu, at a press conference in Abuja, said the group had conducted thorough investigations, refuted the claims, and exonerated NNPCL of any wrongdoing.

He said, “Upon receipt of disturbing complaints from some of the affiliate members of the civil society council, the leadership embarked upon independent enquiries and fact-finding missions, which included interactions with both the accusers and the accused, leading us to vital discoveries and authentic records of the various issues raised.

“The leadership of NCSCN had a very thorough interface with the management of the NNPCL, calling for relevant books of accounts, while critical questions were asked.

“The tedious and non-manipulated mission revealed that by 2020 NNPCL was not yet in existence at that time in question, NNPC was the established existence, and NAPIMS was in charge of the business arm. NNPCL was incorporated in September 2021 and formally unveiled on July 19, 2022.

“The management of NNPCL presented to us the original audited account of NNPC, which was found free of any verifiable fraud. NAPIMS is now scrapped, and the transition from NNPC to NNPCL proper stock-taking and audits were conducted and made public. Hence, the alleged missing funding is unfounded and unsubstantial even in the said AGF report.”

He added that the group will make records available to its members in their planned National Civil Society Conversation on the Petroleum Industry Act (PIA) by next month, where this issue is expected to be laid to rest once and for all among the civil society community.

“We can boldly assert that the missing fund does not exist in the books and records unless there are other documents available outside all the official audit records,” the group insists.