The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke has directed the Nigerian National Petroleum Corporation (NNPC) to defray $1.48 billion remittances due to the Federation Account by the Nigerian Petroleum Development Company (NPDC), being signature bonus, taxes and royalties on the assets transferred to the firm.NPDC is an upstream subsidiary of NNPC. The Corporation also insisted it is not indicted by the forensic audit report on the alleged missing $20bn unremitted oil revenue carried out by the reputable international firm, PriceWaterhouseCoopers.
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