N802BN AUDIT BREACHES: REPS PROBE NNPC, INEC

House of Representatives panel launches comprehensive parliamentary investigation into major financial infractions flagged in Auditor-General’s reports  

The House of Representatives has initiated a high-stakes probe into the Nigerian National Petroleum Company Limited (NNPC) and the Independent National Electoral Commission (INEC) over alleged financial breaches totaling ₦802.19 billion.  

The investigation, spearheaded by the Public Accounts Committee (PAC), stems from damning revelations contained in recent annual reports released by the Office of the Auditor-General for the Federation.

According to legislative filings, the probe is designed to scrutinize systemic fiscal irregularities, unverified expenditures, and unremitted revenues traced to the affected institutions over multiple financial cycles.

Lawmakers handling the oversight exercise emphasized that public agencies must maintain strict adherence to financial regulations, transparency, and accountability, particularly when managing public funds and statutory allocations.

The committee has resolved to summon key accounting officers and management heads of the indicted bodies to defend their positions, provide detailed documentation, and account for the discrepancies.

While noting that an audit query does not automatically establish final culpability, the parliamentary panel stressed that it remains fully committed to recovering missing funds and plugging leakages within the public sector.  

Civil society groups and fiscal transparency advocates have commended the legislative initiative, urging the lower chamber to ensure thoroughness and see the investigation through to its logical conclusion.