The Senate Committee on Public Accounts has given the external auditors of the Nigerian National Petroleum Company (NNPC) Limited one week to explain over N210 trillion said to be Unaccounted for within one week.
At an investigative hearing on Wednesday, the committee queried the auditors over N107 trillion in receivables and N103 trillion in payables, describing the figures as unexplained and demanding supporting documents.
The auditors requested two weeks to retrieve the relevant schedules and working papers, arguing that NNPC, as their client, should explain the entries. However, the lawmakers rejected the request, insisting the auditors must defend the financial statements they certified.
Committee Chairman Ibrahim Dankwambo said the panel was not alleging the funds were missing but was concerned that the huge figures remained unreconciled. He directed the auditors to return within one week with a detailed breakdown of the transactions, supporting documents and the basis for certifying the accounts.
Senators Abdul Ningi, Victor Umeh and Adams Oshiomhole also maintained that the auditors were accountable to Parliament and could not hide behind client confidentiality in a constitutional investigation involving a government-owned company.
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