NNPC TO REMIT $1.48BN AFTER RECONCILIATION WITH DPR

The Nigerian National Petroleum Corporation (NNPC) yesterday said it would remit an outstanding $1.48 billion balance of signature bonus from divested assets to its exploration and production arm, the Nigeria Petroleum Development Company (NPDC) as soon as it reconciles the figures with the Department of Petroleum Resources (DPR).

NNPC stated at a briefing on the outcome of the forensic audit conducted by PriceWaterHouseCoopers (PwC) on crude oil revenues accrued to the country between January 2012 and July 2013 and which the former Central Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi accused it of failing to remit outstanding proceeds from crude oil sales into the federation account, that the $1.48 billion is the balance of its remittance to the government on NPDC’s signature bonus.

 

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