Tuesday, 15 March 2016

Auditor-General Report on fraud and financial irregularities in the NNPC

The Office of the Auditor-General of the Federation yesterday presented its 2014 annual report to the National Assembly detailing what it described as ‘massive fraud and financial irregularities in the NNPC and other government agencies’.‎

The Auditor-General, Samuel Ukara‎ said N36.4 billion which was meant for the construction of dams was released to the office of the National Security Adviser in 2014 as special funds.

Ukara‎ in his report alleged that the Nigeria National Petroleum Corporation, NNPC, did not remit N3.2trn into the Federation account in 2014. He added that $235,685,861, being the proceeds from the sale of gas sale accruable to the Nigeria Liquefied Natural Gas, was never paid to the federation account.

The report also claimed that about $1.6m out of the contract sum of $2.3m, meant to build a school by Nigeria in Haiti in 2010, had been paid without the project being executed up until now.
"As of the time of inspection, there was no evidence of a Memorandum of Understanding between Nigeria and the Haitian Government for the construction of the school. More so, the location of the school was not affected by earthquake in 2010. Therefore, the purpose for which the money was given could not be achieved.”‎he said

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