Okonjo-Iweala denies hiring PwC to probe alleged missing $20bn

GEJ-NNPC AUDIT REPORTThe Minister of Finance, Ngozi Okonjo-Iweala, on Thursday denied appointing PriceWaterHouse Coopers to audit the Nigerian National Petroleum Corporation (NNPC) over the allegation the company diverted $20 billion oil money.

This claim was contained in a statement issued by the Special Adviser to the Minister, Paul Nwabuikwu, Thursday.

According to Mr. Nwabuikwu, the statement came in response to a lawsuit filed by a group of three accounting firms before a Lagos High Court, accusing Mrs. Okonjo-Iweala of violating the local content law by appointing PwC.

“The group is alleging that she appointed the global audit firm PWC to conduct the recently concluded forensic audit of the NNPC against the provisions of the Local Content Act”, he said.

As finance minister and coordinator of the economy, Mrs. Okonjo-Iweala played a leading role in 2014 as the government tried to debunk allegation by a former governor of Central Bank, Lamido Sanusi, that $20 billion oil money had been stolen.

After efforts to reconcile the accounts at a Senate hearing failed, Mrs. Okonjo-Iweala announced that an independent forensic audit would be conducted.

The government later announced the hiring of PriceWatersHouseCoopers.

Despite completing its work in September, the audit firm submitted its findings to President Goodluck Jonathan in February, who in turn ordered for its public release on Monday after the President-elect, Muhammadu Buhari, indicated his interest to revisit the alleged missing oil money. (NAN)


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