- NEC has demanded the refund of N526billion and $21b unpaid by the NNPC and 16 other revenue generating agencies including the Nigeria Customs Service and NIMASA
- Gombe state governor, Ibrahim Dankwanbo said the council adopted the report and resolved to refer those found culpable in the underpayments to the AGF for prosecution
- Dankwanbo noted that council resolved to pursue strengthening of the NNPC governance structure to prevent further recurrence of such gross under-remittance by the commission
The National Economic Council,(NEC) has directed the federal government revenue agencies like the NNPC, NDPC, Nigerian custom service, Nigerian Ports Authority among others to refund N526 billion and $21 billion which is about N8 trillion that was under-remitted to federation account.
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Channels TV reports that the NEC at its meeting presided over by the vice president Yemi Osinbajo at the Presidential Villa, Abuja, received the final report of the forensic audit of the agencies conducted by the international firm, KPMG and observed that eighteen agencies did not remit the appropriate money to the nation’s treasury.
NEC resolved to pursue strengthening of the NNPC Governance structure to stop further shortchanging of the federal government.
This comes after the Nigerian Governors’ Forum (NGF) queried the spending of the Nigerian National Petroleum Corporation (NNPC) and asked it to clarify its expenses.
Chairman of the Forum and Zamfara state Governor, Abdul’Aziz Yari, made this on behalf of his colleagues after they met in Abuja, the nation’s capital.
Addressing reporters on Wednesday night, Governor Yari said the forum was concerned about the implementation of the ‘cash-call agreement’ of the corporation.
The term describes a counterpart funding contract between the Federal Government and the multi-national oil companies, allowing the NNPC to invest about 60 percent of its equity.
The NGF chairman, however, disclosed that the governors resolved to suspend the payment of cash-call, and payment of all arrears until the NNPC clarifies its spending.
According to him, the decision was taken because the corporation could not ascertain the actual figure of debt paid so far.
The council chambers, state House, the Gombe state Governor, Ibrahim Dankwanbo, who also chaired the NEC’s ad-hoc technical committee on the probe, said the Council adopted the report and resolved to refer those found culpable in the underpayments to the Attorney-General of the Federation for prosecution.
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According to him: “KPMG presented the report of the technical audit of RGAs concluding that a total sum of N526 billion and USD$21 billion was under-paid to the federation account.
“Council adopted the presentations and reports of the KPMG and the recommendations of its Ad-hoc Committee including a resolution to identify instances where there appears to have been criminal infringements and forward such to the Attorney-General of the Federation and the Legal Committee of the National Economic Council for further action.
“Council resolved to pursue strengthening of the NNPC governance structure to prevent further recurrence of such gross under-remittance by the NNPC and other RGAs.”
Meanwhile, We had reported that Osinbajo attended the National Retreat on revitalising urban water supply earlier Thursday morning, after which he presided over the monthly meeting of the National Economic Council.
The information was contained in a tweet by the VP’s senior special assistant on media and publicity, Laolu Akande.
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