During the investigative session on Wednesday, where the
Chief Financial Officer, Dapo Segun, appeared before the committee, the absence
of detailed records justifying massive legal and auditing fees was flagged, as
well as contradictions in receivables reportedly worth over N210 trillion
between 2017 and 2023.
The committee, which is chaired by Senator Aliyu Wadada,
said
“Legal fees
were accrued without any explanation or documentation regarding the legal
services rendered. The auditors’ fees raise similar questions. There are no
clear justifications. Everything we’ve seen and heard from the audited
financial statements is troubling.”
Senator Wadada further stated that the main concern is with
the receivables.
“Trillions
of naira are in question, and the new document they presented this afternoon
doesn’t match what’s already in their audited report. It’s completely
independent and contradictory,” he said.
The committee underscored that the concerns stem directly
from the analysis of NNPC’s audited financial statements spanning 2017 to 2023,
not from speculation. The committee has now handed over a list of 11 queries to
NNPC’s finance team and given them one week to return with answers.
Senator Wadada also warned that the matter would not be swept under the carpet, especially as the Tinubu administration, under its Renewed Hope agenda, seeks transparency and accountability in public finance.
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