Bala Wunti Says NNPC Accounts Show No Missing ₦210tn

Former NAPIMS Group General Manager Bala Wunti has told the Senate that NNPC Ltd’s 2023 audited accounts do not show that ₦210 trillion is missing.

The development follows an earlier NaijaTrend report on the Senate giving NNPC auditors one week to explain the accounts, available [here](https://naijatrend.ng/senate-nnpc-auditors-one-week-n210tn-accounts/).

Wunti appeared before the Senate committee reviewing the company’s 2023 audited financial statements and said he had examined the accounts page by page at the committee’s request.

He said the ₦210 trillion figure came from adding two different accounting entries together: about ₦107 trillion in sundry receivables and about ₦103 trillion in accrued expenses. He argued that receivables are funds owed to the company, while accrued expenses are liabilities the company owes to others.

Senator Ibrahim Dankwambo, who chairs the Senate committee reviewing the accounts, also said the committee had not established that any money was missing, according to Daily Post.

Wunti said the financial statements did not support claims that the money had disappeared from NNPC’s books. The committee review is tied to public questions over the oil company’s audited accounts and how the figures were presented.

Source: Daily Post