NNPC owes FG N105bn —Reps

Feb. 27

ABUJA — Some officials of the Nigerian National Petroleum Corporation, NNPC, who appeared before the House of Representatives Committee on Finance to defend the corporation’s 2014 budget estimates, yesterday, were shocked when they were told that the corporation owed the Federal Government N105 billion from its independent revenue.

House of Representatives during plenary

Chairman of the Committee, Jubril Abdumumuni, who disclosed this while receiving some documents containing the financial statements of the corporation, told the head of the team and chief strategist, Mr. Tim Okon, that a document submitted to the committee by the National Budget Office said NNPC was yet to remit N105bn from its independent revenue to the consolidated revenue account.

But swiftly, the shocked Okon and his colleagues denied knowledge of the money, saying they were not aware.

Similarly, the National Agency for Science, Engineering and Infrastructure said it was not also aware that its 2014 budget was N80m, against the N29m it presented to the committee.

Director of Accounts and Finance, Mr. John Amen, who represented the agency, admitted that the Budget Office forwarded N80m as the 2014 estimates of the agency.

Like NNPC, the agency was asked to formally document its denial and submit same to the committee.

Source: http://www.vanguardngr.com/2014/02/nnpc-owes-fg-n105bn-reps/?