Business
How NNPC exported $1bn crude oil without records – Auditor-General
The Auditor General of the Federation (AuGF) has alleged that the Nigerian National Petroleum Company (NNPC) Limited exported 17.877 million barrels of crude without proper documentation in four years.
In a report published on its website on Tuesday night, the AuGF revealed that the product valued at $1,020,969,281.12 was exported by NNPC between 2016 and 2020.
READ ALSO: Blame NNPC for persistent fuel scarcity, says oil marketers
The AuGF also faulted the NNPC for appointing two Pre-Shipment Agents (PIAs) and one Monitoring and Evaluation Agent (MEA) in 2017 knowing fully well that President Muhammadu Buhari had canceled the appointments of all service providers two years earlier.
The Office of the Accountant-General of the Federation was also indicted for making payments of N73 billion to PIAs and MEAs for inspection and monitoring of oil and gas exports.
AuGF noted that the payments were without budgetary provision and violated Section 80(4) of the 1999 Constitution.
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