Connect with us

Nigeria In One Minute

NNPC Says Audited Accounts Up to Date, Fails to Make Them Public

Published

on

The Nigerian National Petroleum Corporation (NNPC) announced yesterday that it has completed the outstanding audit on its financial statements from the years 2011 to 2016, but it failed to make them public.
The audit backlog, the state-run oil firm said in a statement by its spokesman Ndu Ughamadu, has since been formally approved by the NNPC board in line with extant laws governing the operations of the national oil company.

But a visit to the corporation’s website showed that the audited accounts for the six years in question had not been uploaded.

The statement was also silent on if the corporation’s accounts and auditor’s reports had been presented to the Federal Executive Council (FEC) for approval in compliance with the NNPC establishment Act.

The group’s audited financial statement for 2017 is also expected to be ready not later than June 30, 2018, as stipulated by the Act.

THISDAY, April 9, 2018

 

RipplesNigeria… without borders, without fears

Click here to join the Ripples Nigeria WhatsApp group for latest updates.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now