Trillion!! The figures that are just disappearing in Nigeria continues to be on a huge increase, first millions, then billions and now trillions?
This is the latest revelation from the National Economic Council, NEC, that the Nigerian National Petroleum Corporation NNPC, spent 3.8 Trillion Naira in 3 years without approval.
According to reports, this is evident in the forensic audit report by Pricewater House Coopers which was released yesterday showing that NNPC spent this amount as operational costs without a duly approved budgetary allocation.
The Edo State Governor, Adams Oshiomhole in the company of his Kaduna and Zamfara counterparts, Nasir el-Rufai and Abdulazeez Yari, briefed State House correspondents after the inauguration of the National Economic Council, NEC, at the Presidential Villa, Abuja, yesterday.
They make up a four-man committee constituted to go through the books of NNPC and Excess Crude Account as well as the Federation Account.
Oshiomole also explained that the review of the status of the Excess Crude Account shows that the former Coordinating Minister for the Economy and Minister of Finance, Ngozi Okonjo-Iweala, spent 2.1 Billion Dollars without the authority of the NEC.
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