Dipo Olowookere
By Dipo Olowookere
The Nigerian National Petroleum Corporation (NNPC) has reacted to news reports that it teamed up with banks in the country to prevent the remittance of $793.2m into the Treasury Single Accounts, (TSA), scheme as directed by the Federal Government.
Reacting to the development on Friday in a release by its Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, explained that the allegation was not only misplaced but equally misleading.
He said the corporation had earlier taken steps to inform the Presidency, Office of the Accountant General of the Federation, (AGF) and the Central Bank of Nigeria, (CBN) on the existence of the said accounts prior to the creation of the Federal Government Asset Recovery Account.
The NNPC explained that it would be totally out of place to move the funds to the FG Asset Recovery Account as reported noting that it is unreasonable and sheer waste of funds to pay any agent 5 percent, whistle blowing fee for the phantom recovery of genuine NNPC funds which had been disclosed to the Presidency, CBN and other relevant stakeholders.
Providing further breakdown on the lodgements, the NNPC said the amount includes: $ $174.4 million domiciled at Diamond Bank, $40.7 million in Skye Bank and $16.7 million in Keystone Bank bringing the total to $231.8 million.
The statement explained that in line with the directive of the Presidency, the apex bank was supervising the remittance of these funds to the CBN TSA Account and it has made great strides in this regard.
The NNPC noted that as an entity with fiduciary responsibility to the government and people of the Federal Republic of Nigeria, its commitment to transparency and accountability remains unwavering.
