NNPC To Give Account Of $81.2billion. Reps says
House of Representatives believes that the Nigerian National Petroleum Corporation did not remit a total of $ 81 . 2 bn crude oil proceeds to the Federation Account in four years .
Its ad hoc committee , which is investigating the alleged export of $ 17 bn worth of undeclared crude oil and gas resources , has demanded explanations from the corporation .
The investigation covers the year 2011 to 2014 .
Our correspondent gathered on Monday that the committee, which is chaired by a member of the All Progressives Congress from Adamawa State , Mr . Abdulrazak Namdas , had analysed documents from various sources, including the Nigerian Extractive Industries Transparency Initiative , Central Bank of Nigeria , Department of Petroleum Resources and the NNPC itself before coming to the conclusion .
In its set of questions sent to the NNPC , a copy of which was obtained exclusively in Abuja , the committee noted that the total receipts from crude proceeds for the four years tallied at $ 123 . 9 bn.
However , lawmakers found out that the NNPC remitted only $ 42 . 7 bn to the Federation Account , “ giving a frightening shortfall of $ 81 . 2 bn . ”
Its ad hoc committee , which is investigating the alleged export of $ 17 bn worth of undeclared crude oil and gas resources , has demanded explanations from the corporation .
The investigation covers the year 2011 to 2014 .
Our correspondent gathered on Monday that the committee, which is chaired by a member of the All Progressives Congress from Adamawa State , Mr . Abdulrazak Namdas , had analysed documents from various sources, including the Nigerian Extractive Industries Transparency Initiative , Central Bank of Nigeria , Department of Petroleum Resources and the NNPC itself before coming to the conclusion .
In its set of questions sent to the NNPC , a copy of which was obtained exclusively in Abuja , the committee noted that the total receipts from crude proceeds for the four years tallied at $ 123 . 9 bn.
However , lawmakers found out that the NNPC remitted only $ 42 . 7 bn to the Federation Account , “ giving a frightening shortfall of $ 81 . 2 bn . ”
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