Audit-Report-on-NNPC

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Investigative Forensic audit of crude oil revenues and remittances by NNPC (January 2012 – July 2013) AGENCIES Nigeria Extractive Industries Transparency Initiative (NEITI) Petroleum Products Marketing Company (PPMC) Crude Oil Marketing Division (COMD) DESCRIPTION Ministries and Extra-Ministerial Departments, maintaining government auditing standard for public sector audit, maintaining a close understanding with the State and Local Government <strong>Audit</strong>ors- General and ensuring prompt and regular submission of report to the National Assembly. The Nigeria Extractive Industries Transparency Initiative (NEITI) is an Agency charged with the responsibility, among other things, of the development of a framework for transparency and accountability in the reporting and disclosure by all extractive industry companies of revenues due to or paid to the Government of Nigeria. PPMC is a subsidiary of NNPC tasked with ensuring the supply of petroleum products to the domestic market at low operating costs. In the crude oil sales value chain, it is responsible for: Managing the conversion of the 445,000 bbd allocated to the NNPC for domestic use into refined products. Selling the refined products and paying the revenues realized into the NNPC’s accounts COMD is a strategic business unit within the NNPC. It is responsible for administering the various processes by which Nigerian Crude Oil is exported. In the crude oil value chain it is responsible for: Determination of quantity of crude available for export Allocation of crude oil cargoes to traders Valuation of the cargoes Reconciling and recording of payments made in respect of the cargoes Preparation of FAAC submissions Vanguardngr 192
Investigative Forensic audit of crude oil revenues and remittances by NNPC (January 2012 – July 2013) 6.3.2. Meetings Held Meetings held and names of attendees S/N Meetings held Date Attendees and Designation 1 Meeting with the Group Executive Director, Finance & Accounts 2 Meeting with the Coordinating Minister of the Economy and the Honourable Minister of Finance 3 Meeting with representatives of Petroleum Product Pricing Regulatory Agency (PPPRA) 4 Meeting with Revenue and Investment Department of Office of the Accountant General of the Federation 5 Meeting with the Chairman of Revenue Mobilization Allocation & Fiscal Commission “RMAFC” 20 June 2014 22 June 2014 23 June 2014 23 June 2014 24 June 2014 Mr Bernard Otti, Group Executive Director, Finance & Accounts Mrs Ngozi Okonjo-Iweala, CME and Honourable Minister of Finance Assistant General Manager, Operations PPPRA, Mr V Z Shidok Head Import Operations PPPRA, Mr George Nwatarah Sabo Mohammed, Revenue and Investment Department Umaru Hassan, Revenue and Investment Department Bily Kongha, Revenue and Investment Department Susarumso Jaced E, Revenue and Investment Department Engineer Elias Mbam, Chairman, RMAFC Shettima Umar A B, Commissioner, RMAFC Bappa D Isa, Ag. Director, Allocation, RMAFC Vanguardngr Uche Nwagbara, Director, Oil & Gas, RMAFC Dr Friday Eguche, Director, RMAFC Vincent Nkwede, Special Assistant to the Chairman, RMAFC 6 Meeting with Senior Technical Assistant to the Group Managing Director of NNPC, 27 June 2014 Mr Yusuf S Matashi, Senior Technical Assistant to the former Group Managing Director of NNPC, Mr. Andrew Yakubu 193
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