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The Senate Committee on Public Accounts has raised serious alarm over discrepancies involving trillions of naira in the audited financial statements of the Nigerian National Petroleum Company Limited (NNPC), describing the revelations as mind-boggling and worrisome.
The committee, during the investigative session held yesterday and chaired by ALIYU WADADA, where the Chief Financial Officer, DAPO SEGUN, was present, questioned the absence of detailed records justifying massive legal and auditing fees, as well as contradictions in receivables reportedly worth over N210 trillion between 2017 and 2023.
The panel said, “Legal fees were accrued without any explanation or documentation regarding the legal services rendered.”
The committee further underscored that the concerns stem directly from the analysis of NNPC’s audited financial statements spanning 2017 to 2023, not from speculation, and it further handed over a list of 11 queries to NNPC’s finance team, giving them one week to return with answers.
Real Madrid were held to a 1-1 draw by Al Hilal in their first fixture at the 2025 Club World Cup last night. The Saudi Arabian champions began the game on the front foot and threatened to take the lead but it was Madrid who scored first, with GONZALO GARCIA finishing off a fine team move. Al-Hilal were level before the break from the penalty spot as RAUL ASENCIO ended up pulling the shirt […]
