Auditor General’s report: Senate Indicts NNPC over N102bn crude oil fund

Senate on Tuesday indicted Nigerian National Petroleum Coporation (NNPC) over N102b unaccounted fund from poor record keeping in uplifting of crude Oil to Warri Refinery and Petrochemical company (WRPC) and Kaduna refinery and Petrochemical Company without necessary details

The infraction was in the lack of breakdown of what was delivered to respective companies worth about $376, 655,589 (N102.6 billion).

The indictment was sequel to the 2016 Auditor General report submitted and presented by Senator Mathew Uhroghide which was adopted by the Senate Chamber at the plenary session.

The query reads, “From the review and examination of domestic Crude Oil Lifting sales profile presented for audit verification, it was noted that several deliveries were stated to be jointly lifted by or delivered to Warri Refinery and Petrochemical company (WRPC) and Kaduna refinery and Petrochemical Company without necessary details or breakdown of what was delivered to respective companies .

“From the examination carried out a total oil lifting of 8,399,017; bbls with a total sales values of $376, 655,589 (N102.6 billion) was stated to have been lifted jointly by these two companies.

“The failure to properly separate these deliveries and charge directly to each company makes it difficult to reconcile and account for each lifting.”

The Senate therefore upheld the recommendation of its Committee asking the Group Managing Director of NNPC, Kyari to ensure specific details of crude delivered to the two refineries for audit.

In addition, Senate upheld the indictment of 37 MDAs for violation of financial procedure in the country.

The Red Chamber also resolved to submit the report of the indictment to the Office of Secretary to the Government of Federation for further action .
The lawmakers are also considering a bill that will enforce the implementation of the outcome of the Auditor General report submitted to the National Assembly for consideration.
The deliveries of crude oil from Escravos Terminal for the operation of Warri Refinery abd Petrochemical Company (WRPC) and Kaduna Refinery and Petrochemical Company (KRPC) are channeled directly into WRPC facility.

Thereafter, WRPC pumps the required quality to KRPC