The Chief Financial Officer (CFO) of Nigerian National Petroleum Company Limited, Adedapo Segun, has explained why there is a missing sum of N210 trillion in the company's audited financial statement spanning from 2017 to 2023. According to Segun, the missing funds are cash calls requested by joint venture (JV) partners and settlement to the JVs.
The Chief Financial Officer of Nigerian National Petroleum Company Limited, Adedapo Segun, has explained why there is a missing sum of N210 trillion in the company's audited financial statement spanning from 2017 to 2023. According to Segun, the missing funds are cash calls requested by joint venture partners and settlement to the JVs. He spoke on Wednesday at a session of the Senate Committee on Public Accounts chaired by Aliyu Wadada.
'That is why you see the description reflecting those two items would be washed out because they are two sides of the same transaction, which is the cash calls by JV partners and the settlement by NNPCL.' Missing N210tn: NNPCL's CFO response not satisfactory — Financial Analyst, Sadeik However, a financial analyst, Habu Sadeik, in a post on X on Thursday, said Segun's response was unsatisfactory.
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