N420trn NNPC’S fraud:  Nigeria has become a crime scene – Peter Obi 

Peter Obi, the Labour Party in the 2023 presidential election has lamented  that Nigeria has become a ‘crime scene’, following the discovery of an alleged massive fraud in the audited account of the Nigeria National Petroleum Corporation, NNPC.

The Senate had unearthed some financial irregularities in the company, amounting to N402 trillion from 2017 to 2023.

Obi described discovery as ‘monumental’, in a post on his X handle @ PeterObi.

“It is with the utmost sadness that I once again reaffirm what I have consistently said: Nigeria has become a crime scene.
How else does one explain the recent revelation by the Senate, which uncovered the audited accounts of the NNPC from 2017 to 2023?,” Obi write.

“The Senate uncovered ₦210 trillion in financial irregularities, ₦103 trillion in so-called “accrued expenses”, and another ₦107 trillion in unaccounted “receivables.” No documentation. No accountability. No consequences” Obi said.

“This is not just another scandal, it is a clear and damning confirmation of a nation held hostage by monumental corruption.

“Our national budget within the said period of 2017 to 2023 is as follows: 2017 ₦7.440 trillion. 2018 ₦9.120 trillion , 2019 ₦8.916 trillion, 2020 ₦10.590 was initially approved and in June revised to ₦9.974 trillion due to COVID, 2021 ₦13.588 trillion, 2022 ₦17.130 trillion, 2023 ₦21.830 trillion, total: ₦88.010 trillion

“Our total national budget within the said period was not up to 50% of the said financial discrepancies and irregularities.
This is a criminal institutionalised betrayal of the Nigerian people and a grave threat to the future of the society our children will live in.

“No responsible nation can continue to function like this without confronting this truth. This criminality masquerading as governance must be stopped and dismantled for a better Nigeria.”