Senate asks NNPC to account for N4.07 trillion unremitted revenue

By Haruna Salami 
The Nigerian National Petroleum Corporation, NNPC has been asked to give a detailed breakdown N4.076,548,336,749.75 one week.

Senate Public Accountants Committee gave the when NNPC appeared before it to answer an audit query by the Auditor General the Federation on Tuesday. 

The explanation by NNPC the query was raised without consideration for “subsidy, pipeline repairs, and domestic crude oil transactions” did not satisfy the committee.
The Auditor General’s query asked the GMD, NNPC to: “ 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 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 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 of NNPC GMD to forward a detailed of N4,076,548,336,749.75 one week.