Senate Gives Accountant-General 24 Hours To Clarify N528bn In NNPC Financials

The Senate on Tuesday gave the Office of the Accountant General of the Federation 24 hours to provide information on N528bn not captured in the Nigerian National Petroleum Corporation financial statement.

The Senate Public Account Committee gave the directive during the public hearing on the 2016, 2017 and 2018 Auditor’s General report.

The Chairman of the panel, Senator Matthew Uhroghide, handed down the directive to the representative of Accountant General of the Federation, Sylva Okolieaboh, Director of Treasury Single Account.

The query read, “First, it was observed from Note 1 to the financial statement that the breakdown of sources that made up the net receipts of N1.3tn from NNPC was not disclosed.

“Furthermore, we observed that the net receipt per an extract schedule from the Federation Account (Revenue from NNPC) showed a total receipt of N787bn resulting in a difference of N528bn in comparison with N1.3tn earlier disclosed.

He said, “The issue raised indicate that significant figures in respect of the federal share of revenue were not captured and adequately disclosed in the financial statement and therefore that the financial statements are unlikely to be completed and accurate and fairly presented.

“Federal Government share is 52.68 per cent.”

The Director of TSA in the AGF office pleaded with the committee for more time to bring the documents associated with the issue raised by the Auditor General in its report.