NNPC To Carry Out Forensic Audit On Its 2015 Accounts

The Nigerian National Petroleum Corporation has said it will carry out a forensic audit to know the true financial state of its accounts.

Emmanuel Ibe Kachikwu , NNPC GMD

The NNPC’s general managing director, Ibe Kachikwu while speaking to journalists at the presidential villa said the auditing of the corporation’s accounts will run into 2015 account.

Mr. Kachikwu said the forensic audit, coming in three different approaches will help to downsize the work force of the corporation and re-frame business strategy that will transit the NNPC to a better position.

He said downsizing of the corporation’s staff is to place the right individuals with the right qualifications in key positions.

“At the end of the day, NNPC isn’t a public service, it is a corporation and it is going to be run like a company, generating money and profit for Nigerians. So that whole concept of anything goes is going to stop and this is the first stage in that whole process,” Mr. Kachikwu said.

He said, “We are going to get a forensic audit done so that we know clearly, not the one in PW did but the proper forensic audit that will cover us all the way to 2014,2015, and we will be able to say to you this is the state of the economy.”

He added that things that have been done wrongly before will be put in right order, a new culture for accountability and service delivery is being set up, he said.”How well you have done on the job that you have done and if you have done very well how do we elevate you to positions where you can offer more service, if you have not done well enough and we can retrain you we will, but if you have not done well enough and there is no possibility of retraining we let you go,” he said.

He said among the three approaches also include, retraining and repositioning of staff which will precede a collaboration with major and minor stakeholders in the oil industry.

This Mr. Kachikwu said will lead to the review of contracts – a monitoring an evaluation strategy – to ensure that jobs given out by the corporation are carried out to the later.“It is a very intensive and calibrated work, but over the next five, six moths you will begin to see a new emergence in the NNPC, a new process of oil administration in the country and obviously giving fillip to Mr President’s dream of taking the oil industry back to where it should be,” he said.

He also said Nigerians should expect a new NNPC that will be a different institution altogether.

“All that is being looked at because to run an oil company you need a
lot of funds to do it, if you don’t you will close down the
corporation and the production system will close down.

“So we are looking at having merged the need for accountability and openness with the need to make sure that the industry also survives, you cannot
throw away the baby with the bath water,” the corporation’s GMD said.