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

Amid 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.

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