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Tuesday, 22 March 2016

Remittal controversy: N4.9trn confirmed unremitted by NNPC

The Revenue Mobilisation Allocation and fiscal Commission (RMAFC) provided that N4.9trn hasn’t been remitted by the NNPC. Certainly, there will be explanation which may never be heard. Let us not forget that the former governor of the CBN revealed then that there the NNPC owed the Federation Account. But we never can tell how that was eventually resolved. The Auditor-General of the Federation, Mr Samuel Ukura, earlier on the 14th of March said NNPC owes the Federation Account N3.235trn. NNPC on Wednesday, 16th of March, responded that the AuGF’s declaration to the National Assembly was erroneous and that the outstanding remittance was N326 billion. The response only caused an increase to the earlier N3.2 billion.

March 22, 2016

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