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'NNPC failed to remit N3.3tr under Jonathan'

15 March 2016, 10:51

Abuja - Nigeria’s Auditor-General, Samuel Ukura, has revealed how the Nigerian National Petroleum Corporation (NNPC) shortchanged federal government revenues by N3.2 trillion in 2014 alone.

Addressing reporters on Monday after submitting his office’s 2014 audit report of the Integrated Payroll and Personnel Information System (IPPIS) to the national assembly, Ukura said the oil corporation under-remitted domestic crude oil sales to the federation account.

Kura implored the federation account allocation committee (FAAC) to investigate the funds and ensure their recovery to the federation’s coffer.

Also read: We are not unbundling NNPC - Kachikwu

“From the examination of NNPC mandates to CBN on domestic crude oil sales and reconciliation statement of technical sub-committee, FAAC amount not remitted was N3.2 trillion.

“Also, the $235-million sale of gas to NLNG was not paid to the federation account but transferred to some undisclosed Escrow Accounts.

“Another $346.2 million was stated to have been paid and received by the federation account, through NGL funding account as gas export sales, yet no document was available to confirm this”, he said.

He also disclosed that discrepancies up to N73.5 billion were found from various special funds accounts of the federal government.

- News 24


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