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NNPC to open financial statements for scrutiny

By Michael Eboh

THE Nigerian National Petroleum Corporation, NNPC, has agreed to open its finances for scrutiny and allow unfettered access to its books, especially by the Office of the Auditor General of the Federation, OAuGF.

This was disclosed in a statement by the NNPC following a visit by the Auditor General of the Federation, Mr. Anthony Ayine, to the Corporation in Abuja.

The statement indicated that OAuGF was impressed with the Corporation on accountability while Ayine commended the Managing Director of the NNPC, Mr. Maikanti Baru, for improved access to its books during periodic checks by OAuGF on the books of the Corporation.

He further called for improved synergy between the OAuGF and the oil and gas industry especially in providing technical exposure and support for auditors on the beat.

Technical exposure and support

Also speaking, Baru explained that transparency and accountability has become a way of life for management and staff of the corporation, noting that the era of unpublished or accumulated NNPC audit accounts had been confined to the history book.

He disclosed that NNPC planned to conclude the audit of its 2015 accounts latest by the end of August 2017, while preparation of the 2016 audited account which began about a month ago would be concluded by the end of 2017.

He said, “This explains why we publish our operations and financial reports every month so that not only your office but the general public could follow the trail. I don’t think there is any government institution that has demonstrated this level of transparency.”

He added that as an entity, the NNPC had a mandate to ensure that Nigeria reaped bountifully from the proceeds of its vast hydrocarbon resources and the NNPC management was also willing at all times to adopt measures that would propel the realization of this noble objective.


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