Audit Uncovers N8.1tr Unremitted to FG by NNPC, Others

By Dipo Olowookere

Some revenue generating agencies of the federal government have been accused of not remitting about N8.1 trillion to the nation’s coffers from 2010 to 2015.

This fraud was uncovered after reputable auditing company, Klynveld Peat Marwick Goerdele (KPMG) audited the agencies.

These agencies include the Nigeria National Petroleum Corporation (NNPC), Nigerian Customs Service (NCS), Nigerian Maritime Administration and Safety Agency (NIMASA), Federal Inland Revenue Service (FIRS), Nigerian Petroleum Development Corporation (NPDC) and 10 others.

At the National Economic Council (NEC) meeting yesterday in Abuja, Governor Ibrahim Dakwambo of Gombe State, while addressing newsmen, said the council has directed the indicted agencies to refund the funds to the Federal Government.

He said the KPMG report was submitted to NEC on Thursday at the meeting chaired by Vice President Yemi Osinbajo and adopted.

Mr Dakwambo said the council has now mandated KPMG to extend the forensic audit to 2017.

“KPMG presented the report of the technical audit of RGAs concluding that a total sum of N526 billion and $21 billion was under-paid to the Federation Account.

“NEC’s ad-hoc Committee chaired by Gombe State Governor with members including Governors of Edo, Kaduna, Akwa Ibom, Lagos and the Finance Minister recommended refund of the amounts under-paid.

“Council adopted the presentations and reports of the KPMG and the recommendations of its Ad-hoc Committee including a resolution to identify instances where there appears to have been criminal infringements and forward such to the Attorney-General of the Federation and the Legal Committee of the National Economic Council for further action.

“Council resolved to pursue strengthening of the NNPC governance structure to prevent further recurrence of such gross under-remittance by the NNPC and other RGA,” he told reporters after the meeting.

The Governor further said the council has resolved to “pursue strengthening of the NNPC governance structure to prevent further recurrence of such gross under-remittance by the NNPC and other RGAs.”