Nigeria: Auditors Cast Doubts Over NNPC's Ability to Continue As Going Concern

21 October 2020

Auditors to the Nigerian National Petroleum Corporation (NNPC) have expressed doubt over the national oil company's ability to continue as a going concern, following the figures released by the corporation in its latest Audited Financial Statement (AFS).

Making their independent remarks on the published 2019 AFS, which was made public by the corporation last week, the auditors of NNPC, comprising Pricewaterhouse Coopers, SIAO Partners, and Muhtari Dangana & Co said their position was based on the string of losses by the company and the fact that its liabilities exceeded its assets.

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