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NNPC fires back at Sanusi over missing $20bn

20 March 2015, 16:02

Abuja - The Nigerian National Petroleum Corporation (NNPC) has objected to recent statements credited to the Emir of Kano, Alhaji Muhammadu Sanusi, claiming that the issues surrounding his allegation against NNPC have not been addressed

This is contained in a statement issued by the Group General Manager, Group Public Affairs Department, NNPC, Ohi Alegbe, on Thursday in Abuja.

The statement said the Emir, a former Governor of the Central Bank of Nigeria (CBN), had reiterated that his allegation of unremitted 20 billion dollars oil revenue against NNPC was not properly addressed.

It expressed concern that the respected traditional ruler, against the findings of the Senate Committee on Finance and PricewaterhouseCoopers (PwC), still held on to his claim over the issue.

“Our attention has been drawn to the latest gambit of the former CBN governor and Emir of Kano, Muhammadu Sanusi II, to reinvent the wheel of his false allegations against NNPC during an interview with Christiane Amanpour of the CNN.

"According to the royal father, one of them (issues) is the billions of dollars being paid in kerosene subsidies without appropriation by the National Assembly and against a presidential order," it said.

Also read: Sanusi says issues around missing $20bn unresolved

The statement said that the emir, (as CBN governor), attended the hearings of the senate committee where the issue of kerosene subsidy was exhaustively looked at vis-à-vis the Presidential Memo directing the removal of kerosene subsidy.

"The explanation was that the process of implementing the presidential directive was not followed through by the Minister of Petroleum Resources at that time as required by law which technically meant that kerosene subsidy was not removed,” it stated.

It stated that it was on the basis of this that the committee, in its report, recommended that the executive should prepare and present to the National Assembly a supplementary budget.

It said the budget was to cover the expenditure for N90.6 billion for premium motor spirit subsidy 2012, and N685.9 billion for kerosene subsidy expended without appropriation by the National Assembly.

It explained that PricewaterhouseCoopers (PwC) had also observed in its recent forensic audit report that regarding the issue of subsidy on DPK (kerosene), the presidential directive of October 19, 2009, was not gazetted.

It stated that PwC added that there was no other legal instrument cancelling the subsidy on DPK.

According to the statement, the senate committee has also concluded that all that is now required is for the FGN to propose appropriation for the unappropriated subsidy for the period in a supplemental budget.

“We are therefore at a loss as to what Sanusi meant by his statement that issues surrounding his allegation of unremitted $20bn, especially regarding kerosene subsidy, have not been adequately addressed.

“Why the royal father appears hell-bent on hanging a tag of corruption on the corporation, even when all the inquiries into his allegation of unremitted funds have proved otherwise, remains a mystery to us,” it stated.

It urged the royal father to own up to his error of raising ``false allegation'' and apologise for same rather than continue in error.

The corporation enjoined Nigerians and the general public to discountenance the latest attempt to resurrect the campaign against it.



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