President Goodluck Jonathan has on Monday reacted to the President-elect, General Muhammadu Buhari's claim to look int
President Goodluck Jonathan has ordered the immediate release of the full PricewaterhouseCoopers (PwC) forensic audit report on the accounts of the Nigerian National Petroleum Corporation (NNPC), following renewed calls for an investigation into the alleged unremitted $20 billion oil revenue.
Jonathan’s decision comes shortly after President-elect Muhammadu Buhari indicated that his incoming administration would review the handling of the alleged funds and other activities of the outgoing government.
The President, through his Special Adviser on Media and Publicity, Dr. Reuben Abati, said there was nothing wrong with the incoming administration reviewing the activities of the present government.
Abati, in a statement issued on Monday, said Jonathan’s administration had itself reviewed the actions of previous governments when it assumed office.
According to him, the outcome of the March 28 presidential election did not bring the current government’s responsibilities to an end, while the administration remained committed to ensuring a smooth transition.
He also said Jonathan would not authorise any action capable of creating problems for the incoming administration.
On the controversy surrounding the alleged $20 billion, the Presidency described the claim as an “unproven allegation” and said Jonathan had nothing to hide.
“To lay the matter to rest, President Jonathan, in line with Section 7(2) of the NNPC Act, has directed that the full report of the PwC forensic audit of the NNPC accounts be released immediately to the public,” Abati said.
The decision follows renewed attention to the controversy over oil revenues after the former Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, alleged in 2013 that the NNPC had failed to remit about $20 billion to the Federation Account.
Sanusi, who is now the Emir of Kano, had initially raised questions over a much larger figure before the disputed amount was subsequently put at about $20 billion.
The Federal Government later commissioned PwC to conduct a forensic audit of the NNPC accounts in an attempt to establish what happened to the revenues in question.
PwC submitted its report to the government in February 2015. The report covered alleged remittance shortfalls involving NNPC and related transactions for the period between January 2012 and July 2013.
Earlier findings from the audit had put the amount recommended for refund at a minimum of $1.48 billion, rather than the $20 billion originally alleged to have been unremitted.
The report also identified discrepancies and weaknesses in accounting and reconciliation processes within the petroleum sector.
The full report, however, had not initially been made public, leaving room for continued debate over the actual status of the funds and the interpretation of the auditors’ findings.
Jonathan’s latest directive is therefore expected to bring the complete PwC findings into the public domain as the administration prepares to hand over power to Buhari on May 29.
The development also comes as the incoming administration maintains that it will examine the financial records and activities of the outgoing government.
For Jonathan’s administration, the release of the report provides an opportunity for Nigerians to examine the auditors’ findings directly rather than relying solely on competing political claims surrounding the alleged missing funds.
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