FG launches audit probe into NNPCs N2.7tn fuel subsidy refund claim.

Auditors have begun investigating a N2.7 trillion fuel subsidy refund claim made by the Nigerian National Petroleum Corporation, as directed by the Office of the Auditor-General of the Federation. The probe aims to verify the legitimacy of the corporation's subsidy refund request.

Auditors from the Office of the Auditor-General of the Federation have launched an investigation into a disputed fuel subsidy refund claim worth N2.7 trillion by the Nigerian National Petroleum Corporation (NNPCL). The probe follows a request for verification of the claim, which has sparked concerns over the transparency and accuracy of the refund process. The audit will examine the documentation supporting the NNPCL's claim, with details on how the funds were allocated and disbursed expected to be scrutinized. As the investigation unfolds, it is likely that stakeholders in the energy sector will be watching closely for any developments.