In the report, the committee stated that NNPC Limited has not been able to account for the N2 trillion discrepancy.
“From findings, total assets worth $64 billion was unveiled by Mr President but during transfer only $58.8 billion at a rate of ₦450 to $1 was transferred, leaving a balance of ₦2 trillion unaccounted,” the report read in part.
Furthermore, the committee said it discovered additional fraud committed by companies linked to NNPC subsidiaries.“Information available to us suggests that some subsidiaries of NNPC, with locations in foreign countries, buy crude oil and gas from NNPC without evidence of their payments for the purchases. These companies are indicted to be operating without employees and no fixed assets; yet over N30 billion is traceable to some of them,” the report said.
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