Audit-Report-on-NNPC

Investigative Forensic audit of crude oil revenues and remittances by NNPC (January 2012 – July 2013)
Date
No supporting
documents (N)
Duplications
(N)
Operational
Cost (N)
TOTAL (N) TOTAL ($)
Jan-12 933,270,000
933,270,000 5,994,027
Mar-12 1,340,970,000
May-12 405,760,000
Nov-12 906,019,406
Jan-13 4,883,255,198 4,883,255,198
1,340,970,000 8,648,072
405,760,000 2,622,883
906,019,406 5,855,108
31,558,852
TOTAL 3,180,259,406 4,883,255,198 405,760,000 8,469,274,605 54,678,942
Table F2 – Summary of Unsupported Operational Costs 75
Pipeline Surveillance payments
The sum of $3,324,391.39 was verified as pipeline security cost paid to Nigerian Army and Nigerian
Police. However, the sum of $48,238,152.14 for Right of Way and other pipeline security cost could
not be substantiated.
Charter Hire
A total of $59,324,737.01 on Charter Hire Services could not be substantiated due to lack of
supporting document.
NACJ/SPM Repair
The sum of $15,774,478.66 could not be substantiated due to lack of supporting document (i.e.
invoices)
Supporting documents provided for the substantiated balance of $28,324,411.49 were third party
payment certificates from Julius Berger, NNPC internal memo, extract of PPMC request memo to
GMD for approval of payment to Julius Berger.
MT Tuma and MT Olobiri
Vanguardngr
Out of the $17,767,683.54 claimed as payments for manning and management fee of MT Tuma and
MT Olobiri, the sum of 6,658,588.74 could not be substantiated due to lack of supporting documents.
The supporting documents provided for the substantiated balance were copies of invoices from J
Marine Logistics Limited, NNPC’s internal vouchers and NNPC’s payment vouchers.
75
Sources: NNPC Submission during the Senate Hearing, CBN Monthly average rate
Confidential information for the sole benefit and use of the <strong>Audit</strong>or-General for the Federation.
PwC 93