NNPC Denies Non-remittance of N21bn Revenue To Federal Account

The Nigerian National Petroleum Corporation (NNPC) has denied allegations it did not remit N21bn revenue from Nigeria Liquefied Natural Gas (NLNG) to the Federation Account.

Its Group Managing Director (GMD) Mele Kyari dismissed the allegation as pedestrian and false.

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) had in a report submitted to the House of Representatives Committee on Public Accounts accused the NNPC of failing to remit dividends paid into the NLNG dividend account.

RMAFC alleged the NNPC spent the money without remitting same to government coffers.

Reacting to the allegation during an interview with reporters in Lagos, Kyari said it was practically impossible not to remit money into the federation account.

He said: “I think it is just impossible not to remit money into the Federation Account. It is also impossible to withdraw any money illegally from any account of government. By the way, the NLNG accounts are Treasury Single Accounts (TSA) and domiciled with the Central Bank of Nigeria (CBN).

“It is practically impossible. We thought the accusation was very pedestrian and we didn’t bother to react to it because we know that it is impossible.”