By Henry Umoru
ABUJA — The Senate has given the external auditors of the Nigerian National Petroleum Company Limited (NNPC Ltd.) a one-week ultimatum to provide a detailed breakdown of over ₦210 trillion recorded in the company’s audited financial statements, which lawmakers said remained unexplained.
The Senate said the auditors, having signed off on the company’s accounts, must produce the schedules and working papers supporting the figures instead of referring lawmakers back to NNPC Ltd.
The ultimatum was issued on Wednesday by the Senator Ibrahim Dankwambo-led Senate Committee on Public Accounts.
The controversy centred on two major balance sheet entries in NNPC Ltd.’s audited financial statements — approximately ₦107 trillion classified as receivables and ₦103 trillion recorded as payables — which senators said had not been adequately explained despite repeated engagements with the national oil company.
