Senate To Grill Accountant General of the Federation Over N528 Billion NNPC Fund

The Senate would on Wednesday interrogate the Office of the Accountant General of the Federation (OAGF) over N528 billion differential in Nigerian National Petroleum Corporation (NNPC) financial statement.

The Senate Committee on Public Account gave the agency 24 hours to provide the information needed to clear the air on the differential.

The Committee Chairman, Matthew Uhroghide, at the Public hearing on the 2016, 2017 and 2018 Auditor’s General report, gave the directive to the representative of Accountant General of Federation, Sylva Okolieaboh, who is Director of Treasury Single Account (TSA)

The query reads: “First, it was observed from Note 1 to the financial statement that the breakdown of sources that made up the net receipts of N1.3 trillion 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 N787 billion resulting in a difference of N528 billion in comparison with N1.3 trillion earlier disclosed.

“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 statement are unlikely to be completed and accurate and fairly presented.

“Federal government share is 52.68 percent”

Responding to the position of the Senate, the Director of TSA begged the Committee to give them more time to bring the documents associated with the issue raised by the Auditor General in the report.