How Much Is Missing in NNPC?

Thanks to Professor Chukwuma Soludo, Nigerians will in the next one week know how much oil funds that the state oil corporation  failed to remit to the treasury: $20billion? N30trillion? Only $12billion or $1billion? Or nothing?

A senior partner at PriceWaterHouse, My Uyi Akpata, on Monday led the team that investigated the Nigerian National Petroleum Corporation (NNPC) to submit its “forensic” audit of the corporation to President Goodluck Jonathan at the Presidential Villa.

President Jonathan asked the auditor-general of the federation to make the report public within one week.

Apparently, the report has been submitted as a reaction to former CBN governor  Soludo’s charge that over N30trillion was missing on the watch of finance minister Ngozi Okonjo-Iweala. Another former CBN governor Sanusi (now Emir of Kano) had said $20billion oil money was not accounted for. At a time government officials including the finance minister admitted that “only” $10-12billion was not accounted for.

Speaking yesterday, Jonathan said people were mentioning an amount of money Nigeria did not even have.

The report is still likely to be controversial. Even if only $1billion is declared missing, Nigerians would expect the thieves to be punished and the money recovered.

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