Missing $49bn Probe: NNPC Set to Remit $1.48bn Into Federation Account

According to Vanguard, a group has commended the NNPC for taking immediate steps to remit $1.48bn into the federation account following recommendations of PriceWaterhouseCoopers' audit report on the missing $49bn:

Following the submission of the audit report on the Nigeria National Petroleum Corporation (NNPC), by PriceWaterhouseCoopers, which indicated that only $1.48b was yet to be remitted to the federation account as against $49b mentioned as missing, a Civil Society group, Move On Nigeria, has commended the Federal Government and the Minister of Petroleum Mrs. Allison Madueke for taking immediate steps towards remitting the said $1.48BN to the Federation Account.

The group said the implementation of the Committee’s report shows responsiveness and commitment to reform and best practices.

In a statement signed by its National Co-ordinator, Mr Clem Aguiyi, the group stated that the allegation on the missing money was an embarrassment to Nigeria, President Goodluck Jonathan and Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke. It stressed the need for top level officers to check their facts well before going public in order not to tarnish the image of Nigeria.

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