CNPP calls for independent forensic audit of NNPC

The leadership of the Conference of Nigeria Political Parties, CNPP, has called for an independent forensic audit of the Nigerian National Petroleum Company Limited under Engineer, Mele Kyari, covering the period from 2020 to date.

In a statement on Thursday made available to journalists, the conference expressed shock and disappointment over the recent demand by the Company for the Federal Account Allocation Committee (FAAC) to pay an outstanding N4.56 trillion for selling petrol at a subsidized price between August 2023 and June 2024.

“This audit should be conducted by a reputable international firm and should cover all aspects of NNPC Limited’s operations, including its financial dealings, contracts, and acquisitions,” CNPP demanded.

Signed by its Deputy National Publicity Secretary, James Ezema, the Conference, who frowned at the positions of the company, demanded that an independent forensic audit be put in place as a matter of urgency.

“We find it absurd and unacceptable that NNPC Limited would declare a net profit of N3.297 trillion in its 2023 Audited Financial Statement (AFS) and yet bill FAAC a whopping N4.56 trillion subsidy reimbursement for petrol sold in just two months.” CNPP stated.

They also demanded an immediate explanation from the NNPC Limited on several issues, some of which include how the company arrived at the figure of N4.56 trillion as subsidy reimbursement.

Others are, “The basis for the claim when the Federal Government has repeatedly announced that there are no subsidy payments, and how NNPC Limited can declare a net profit of N3.297 trillion in a year and yet claim to have incurred a subsidy expense of N4.56 trillion in just two months.”

The audit, as demanded by the conference, should be conducted by a reputable international firm and should cover all aspects of NNPC Limited’s operations, including its financial dealings, contracts, and acquisitions.

CNPP also called on the National Assembly to take immediate action to investigate the allegations and to hold those responsible accountable for any wrongdoing.

“Failure to take action, all the federal lawmakers in the country, as made known by CNPP, will be held accountable by the citizens as accomplices in the looting of Nigeria’s oil revenues.