The Senate Public Accounts Committee has given the external auditors of the Nigerian National Petroleum Company Limited (NNPC Ltd.) one week to submit detailed schedules supporting more than N210 trillion contained in the company’s audited financial statements.
The committee said the auditors, having certified the accounts, must provide the working papers and breakdown of the figures instead of directing lawmakers back to NNPC Ltd.
The disputed amount consists of about N107 trillion recorded as receivables and another N103 trillion listed as payables in the company’s audited accounts.
Lawmakers said repeated interactions with NNPC Ltd. had failed to provide satisfactory explanations for the entries.
When asked to produce the supporting schedules, representatives of the external audit firm said the documents formed part of their working papers and requested about two weeks to retrieve them.
The request was rejected by members of the committee.
Ibrahim Dankwambo, chairman of the committee, questioned why
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