Pulled from The Will

The Nigerian National Petroleum Corporation (NNPC) and subsidiary, the Nigerian Petroleum Development Company (NPDC) have been indicted by the PricewaterhouseCoopers (PWC), which carried out an extensive forensic audit of the financials of the state-owned oil giant.

The corporation will have to refund $1.48 billion to the federal government, according to a summary of the audit report which was made public Thursday in Abuja by the Auditor General of the Federation, Mr. Samuel Ukura.

The federal government had last year commissioned PWC to look into the finances of the corporation following allegations made by the former governor of the central bank, Sanusi Lamido Sanusi, that the corporation had diverted over $20 billion meant for the federal government.

PWC submitted the report to President Jonathan on Monday after about 6 months of work.


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