The audit was conducted by PricewaterhouseCoopers (PwC) following allegations that the NNPC did not remit $20 billion into the federation account in a letter written to President Goodluck Jonathan in September 2013 by the former governor of central bank, Sanusi Lamido Sanusi, who is now the emir of Kano.
Sanusi initially put the figure at $49.8 billion, but after a reconciliation committee was set up following a media leak of his letter, he revised the figure to $20 billion.
He was subsequently asked to resign by Jonathan and suspended when he refused to do so, but presidency said his suspension was based on a report by the Financial Reporting Council of Nigeria (FRC) on his misdemeanors at the central bank.
The PwC report, which was ordered released to the public by Jonathan on Monday, did not corroborate Sanusi's figure but the findings were no less damning. Read More....
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