A Review of the Nigerian Energy Industry

Unremitted $10.8bn: Governors studying NNPC’s report, says Jang

nnpc22 January 2014, Abuja – The factional Chairman of the Nigeria Governors’ Forum (NGF), Governor Jonah Jang, has said it is studying the the issue of $49.8 billion allegedly unremitted by the Nigerian National Petroleum Corporation (NNPC) to the federation account.

The Central Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi, had in a letter to President Goodluck Jonathan raised the alarm over the non-repatriation of the sum.
But the NNPC had however, gone ahead to explain that it was not $49.8 billion but $10.8 billion that was in dispute.

The Jang faction in its meeting held on Monday that lasted till the wee hour of yesterday also touch on issues that borders on internal democracy in the party and the 2015 elections.

The meeting was however attended by 11 governors and they are that of Plateau, Kogi, Bauchi, Abia, Ondo, Bayelsa, Cross River, Gombe, Anambra, Ebonyi and Taraba.

Meanwhile, the 36 governors of the federation will tomorrow confront the federal government over deductions at the Excess Crude Account and the unremitted $49.8 billion from the federation account.

As prelude to this, the NGF faction loyal to Governor Chibuike Amaechi of Rivers State has summoned a meeting of the governors for today.

The National Economic Council (NEC) meeting is expected to hold tomorrow.
The NEC meeting has not taken place since August 2013.

At the last meeting of the governors royal to Amaechi, they called on the National Assembly to conduct a forensic audit on the federation account.
The governors also urged the National Assembly to hire an audit firm to audit the missing funds from Excess Crude Account.

One of the governors that spoke to THISDAY said tomorrow’s meeting of NEC would be turbulent because the governors will demand for full accountability of the missing funds as revealed by the CBN Governor.
The governor said it was for this reason that all the governors will be meeting on Wednesday to rehearse their position ahead of the NEC meeting.
– Chineme Okafor, This Day

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