NNPCL Faces Scrutiny Over £14.3m Unaccounted Expenditure in London Office

The Nigerian National Petroleum Company Limited (NNPCL) is under fire as the Auditor-General's 2022 report reveals a lack of accountability for £14.3 million spent in its London office during the 2021 financial year. The audit identified major breaches of financial regulations, raising concerns about compliance.

NNPCL failed to provide supporting documents for the expenditure, violating financial regulations and risking misappropriation of public funds. Despite NNPCL's claims of operational and financial compliance, the audit highlighted weaknesses in the company's internal control systems.