Buhari To Publish PwC Full Forensic Audit On NNPC – Fayemi

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Former Ekiti State Governor, Dr. Kayode Fayemi, has disclosed on Tuesday that President-elect Muhammadu Buhari’s administration will publish the full audit of the Nigerian National Petroleum Corporation (NNPC) and he also expects the state-run oil firm to repay the government more than previously recommended.

Bloomberg report has it that the All Progressives Congress (APC) believes NNPC may need to refund more than the $1.48 billion stated in the highlights of a PricewaterhouseCoopers LLP (PwC) report released by the Auditor-General of the Federation in February.

Fayemi, who is also the APC Presidential Campaign Director of Policy, revealed this on Tuesday in an interview at his residence in Lagos.

“I have a figure that’s more than $1.5 billion that’s been talked about,” said Fayemi. “We’ve seen credible information that what PwC says is more than that. We will release the report. We’ll make it available to Nigerians as soon as we have full information on this.”

Former Central Bank of Nigeria (CBN) Governor and now Emir of Kano, Muhammad Sanusi II, was suspended by President Goodluck Jonathan last year after he alleged the NNPC hadn’t turned over about $20 billion of oil revenue to the government, which earns two-thirds of its revenue from the commodity.

Sanusi also said last month that the issue wasn’t addressed sufficiently.

The oil company said the PwC report, which Jonathan’s government hasn’t published in full, liberate it of Sanusi’s allegations. It has started to refund the $1.48 billion, Petroleum Minister Diezani Alison-Madueke told reporters on Wednesday.

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