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Monday, June 29, 2015

NEC sets up committee to probe NNPC missing funds

NNPC
The National Economic Council chaired by Vice President Yemi Osinbajo on Monday set up a four-member committee to scrutinise the accounts of the Nigerian National Petroleum Corporation and the Excess Crude Account managed by the last administration. 

 The probe was meant to unravel N3.8trillion not remitted to the Federation Account by the NNPC between 2012 and May 2015 as well as $2.1bn said to have been deducted from the ECA without approval.


 Zamfara State Governor, Abdulazeez Yari; Governor Adams Oshiomhole of Edo State; Governor Nasir El-Rufai of Kaduna State; and Governor Udom Emmanuel of Akwa Ibom State briefed State House correspondents at the end of the 58th meeting of the council held at the Presidential Villa, Abuja. 

 Yari said through a briefing by the Director of Funds, Office of the Accountant-General of the Federation, Mr. M.K. Dikwa, council members got the report of the ECA and unremitted funds by NNPC.

 He said, “On that line, a four-man committee consisting of the governors of Edo, Gombe, Kaduna and Akwa Ibom State was constituted to go through the books of ‎NNPC and Excess Crude as well as the Federation Account.

 ‎”The four-man committee will check the books of NNPC, most especially the issue of excess crude and what is not remitted into the Federation Account.

 “The FG, in conjunction with the CBN, will look inwards to see how to support, how much they will give to states especially on the issue of outstanding salaries owed by the states and even the Federal Government.”

 Explaining further, Oshiomhole said the meeting was the first time that the NNPC and the office of the Accountant-General of the Federation were compelled to provide information on issues concerning the total sales of Niger‎ia’s crude from 2012 to May 2015, saying that has never happened before. 

 He said presentations revealed that although NNPC claimed it earned N8.1trillion between 2012 and May 2015, the corporation only paid N4.3trillion into the Federation Account.

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