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Audit uncovers over N61bn payment breaches in NNPC

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Audit uncovers over N61bn payment breaches in NNPC

24 Nov, 2025

The Office of the Auditor-General for the Federation has uncovered 28 major financial irregularities linked to the Nigerian National Petroleum Company Limited, involving N30.1bn $51.6m, £14.3m, and €5.17m in questionable payments, undocumented expenditures, and breaches of financial regulations. When converted to naira, the total amount is about N61.1bn. The red flags, contained in the Auditor-General’s 2022 Annual Report on Non-Compliance (Volume II), detail transactions carried out during the 2021 financial year across the NNPCL and its subsidiaries. The document was obtained by our correspondent on Sunday........................ . . . . . . . READ MORE