The Public Accounts Committee of the House of Representatives will on Monday and Tuesday question officials of the Nigerian National Petroleum Company Limited (NNPCL) and the Independent National Electoral Commission (INEC) over alleged financial breaches totalling more than N802.19bn.
The allegations are contained in reports of the Auditor-General for the Federation covering the 2021, 2022 and 2023 financial years.
The reports raised queries over procurement procedures, revenue management, payments and compliance with financial regulations by government agencies.
A member of the committee disclosed that the NNPCL faces alleged financial infractions of about N514bn from the 2021 Auditor-General’s report, while INEC is expected to clarify alleged breaches of about N288.19bn contained in the 2022 audit query.
According to findings, the N514bn queried against the NNPCL includes alleged irregular deductions of N343.64bn from domestic crude oil sales.
The Auditor-General’s report also flagged N83.66bn allegedly warehoused from miscellaneous revenue in a sinking fund account, as well as N82.95bn in alleged unauthorised deductions from Federation revenue.
The investigation is being conducted by the Public Accounts Committee chaired by Bamidele Salam.
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