The House of Representatives has commenced moves to investigate alleged financial breaches involving the Nigerian National Petroleum Company Limited and the Independent National Electoral Commission, with the issues under review reportedly totalling more than ₦802 billion. The investigation is being conducted by the House Public Accounts Committee following queries contained in reports of the Auditor-General for the Federation. The reports cover the 2021, 2022 and 2023 financial years. According to the committee, about ₦514 billion in alleged financial infractions were raised against the NNPCL in the 2021 audit report, while INEC is expected to explain issues involving about ₦288.19 billion contained in the Auditor-General’s 2022 report. The committee is expected to question officials of both institutions and request supporting documents and explanations concerning the transactions. Among the issues reportedly raised against the NNPCL are alleged irregular deductions from domestic crude oil sales, questions concerning miscellaneous revenue and alleged unauthorised deductions from Federation revenue. INEC, meanwhile, faces questions concerning procurement processes, payments to contractors and statutory deductions. The audit queries also reportedly include questions concerning expenditure linked to the 2019 general election. One transaction previously flagged involved more than ₦5.31 billion allegedly paid for smart card readers without prior approval from the Bureau of Public Procurement. However, an audit query does not automatically establish financial wrongdoing. The affected institutions are entitled to provide explanations and documents before the committee reaches any conclusion. The investigation is part of the constitutional responsibility of the National Assembly to examine government accounts and ensure public institutions comply with financial regulations. The outcome of the probe could determine whether further action is required over the transactions under scrutiny.
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