Tuesday 22 March 2016

NNPC FAILED TO REMIT N4.9TR TO FEDERATION ACCOUNT, SAYS FISCAL COMMISSION

NNPC HeadquartersAmid the denial by the Nigerian National Petroleum Corporation (NNPC) of the allegation by the Auditor- General of the Federation ( AuGF), Mr. Samuel Ukura, that it didn’t remit into the Federation Account N3.25 trillion crude oil minerals revenue, the Revenue Mobilisation, Allocation and Fiscal Commission ( RMFAC) has said the amount quoted by the AuGF was under-reported.

According to the commission, the amount standing to the NNPC as un-remitted liability is indeed N4.9 trillion, explaining that the N3.25 trillion only represents the corporation’s liability in 2014. Before then it said NNPC had a pending liability which if aggregated would make it N4.9 trillion.

Read more @ The Guardian

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