L
LequteMan
Guest
Nigeria - The audit firm employed to audit the books of NNPC for the second time, PricewaterhouseCoopers (PwC), has said the need to widen the scope of the alleged N20 billion may have informed the decision of the Federal Government to engage the firm for another round of audit.
Former governor of the Central bank, Sanusi Lamido, had alleged that NNPC has failed to remit some crude oil funds amounting to $20bn to the country's coffers.
PwC had been hired to audit NNPC and had made a recommendation that NNPC should return $4bn to the country's treasury account.
However following president Muhammadu Buhari's inauguration, PwC had been hired again to audit NNPC's accounts.
“But beyond widening of scope, what I think that may be different from this audit compared to the first one is that there may be strong learning points in terms of plugging revenue leakages or erosion that may be minimized going forward, especially in the face of dwindling revenue that is available to government,’’ the Country Senior Partner, Nigeria and Regional West Market Area for PricewaterhouseCoopers (PwC), Mr. Uyi Akpata, disclosed.
‘‘For what we are about to do now, there is a relationship in terms of engagement that we have with our current employer -that is NNPC. So, there may be limited information that I will be able to disclose as regards that.
“People have seen that report and for the benefit of hindsight, people might have suggested to government that there is a need to widen the scope because NNPC may not be only organisation involved in this governance or revenue issue. There may be a need to extend it to the Ministries, Departments and Agencies (MDAs). So that may be the difference between the first and second audit,” he said.
Former governor of the Central bank, Sanusi Lamido, had alleged that NNPC has failed to remit some crude oil funds amounting to $20bn to the country's coffers.
PwC had been hired to audit NNPC and had made a recommendation that NNPC should return $4bn to the country's treasury account.
However following president Muhammadu Buhari's inauguration, PwC had been hired again to audit NNPC's accounts.
“But beyond widening of scope, what I think that may be different from this audit compared to the first one is that there may be strong learning points in terms of plugging revenue leakages or erosion that may be minimized going forward, especially in the face of dwindling revenue that is available to government,’’ the Country Senior Partner, Nigeria and Regional West Market Area for PricewaterhouseCoopers (PwC), Mr. Uyi Akpata, disclosed.
‘‘For what we are about to do now, there is a relationship in terms of engagement that we have with our current employer -that is NNPC. So, there may be limited information that I will be able to disclose as regards that.
“People have seen that report and for the benefit of hindsight, people might have suggested to government that there is a need to widen the scope because NNPC may not be only organisation involved in this governance or revenue issue. There may be a need to extend it to the Ministries, Departments and Agencies (MDAs). So that may be the difference between the first and second audit,” he said.