No N210trn missing from NNPC accounts, ex-NAPIMS GM tells senate committee

A former senior official from the Nigerian National Petroleum Company (NNPC) has refuted allegations that trillions of naira are missing from the company's accounts. Bala Wunti, the ex-Group General Manager of the National Petroleum Investment Management Services (NAPIMS), testified before a senate committee.

Wunti presented audited financial statements from 2023, asserting that they contain no evidence to support claims of N210 trillion disappearing from NNPC's coffers. His testimony directly challenges the narrative that has circulated regarding significant financial impropriety within the state-owned oil company.

The senate committee is conducting an inquiry into the NNPC's financial dealings. Wunti's statement provides a counterpoint to the accusations, emphasizing the importance of official financial records in assessing the company's fiscal health. The investigation continues as the committee seeks to clarify the company's financial status.