The Federal Government has reportedly finalised plans to engage an external auditor to verify the N2.7tn fuel subsidy claim by the Nigerian National Petroleum Company Limited, NNPCL, against the government.
Recall that the NNPCL had claimed an outstanding of N6trillion subsidy payment but was reduced to N2.7tn after an initial audit by an audit firm, KPMG.
According to a report by The Punch, the yet-to-be-named auditor will assist the Office of the Auditor-General of the Federation in determining the real amount owed by the government.
The report revealed that the audit would span from 2015 to 2021.
A copy of the minutes of the recent FAAC meeting obtained by the newspapaer on Tuesday in Abuja revealed that a selection process for an external auditor by the procurement department of the finance ministry has begun.
The minute read: “On the forensic audit covering the period 2015 to 2021 to Authenticate NNPC/Federation Claims in Respect of N2.7tn withheld by NNPC Limited:
“The Director of Home Finance reported that the Office of the Auditor-General of the Federation was still working on the matter, adding that the Procurement Department of the Ministry had also put structures in place for the engagement of an external auditor, who would assist OAuGF to carry out the assignment.”
This development comes five months after the plan was proposed at the monthly Federation Allocation Accounts Committee, FAAC, meeting in April 2024.
