The explanation by NNPC the query was raised without consideration for “subsidy, pipeline repairs, and management of domestic crude oil transactions” did not satisfy the committee.
The Auditor General’s query asked the GMD, NNPC to: “Explain why the sum of had remained unremitted to the Federation Account by the NNPC contrary to the constitutional provision. “Remit all amounts due to the Federation Account. “Improve on the record remittance of proceeds to the Federation Account” and “pay interest on the amount unremitted”.
In its response, the NNPC said “the balance of N4,076,548,336,749.75 was arrived at without taking cognizance of subsidy and pipeline repairs and management associated with domestic crude oil transactions.
The Vice-Chairman of the Committee, Senator Hassan Hadeija, who presided over the meeting on Tuesday then directed Umar Ajiya, the representative of NNPC GMD to forward a detailed report of N4,076,548,336,749.75 within one week.