A Review of the Nigerian Energy Industry

How revenue agencies short-change Nigeria by remitting dollar revenue in naira

15 October 2015, Abuja – The National Economic Council (NEC) was on Thursday told how some Federal Government agencies short-changed ‎the country by remitting dollar revenues into the Federation Account in naira.

Dollar strenghtens.

Cross River State Governor, Ben Ayade who briefed State House correspondents alongside three of his colleagues, Olusegun Mimiko of Ondo, Aminu Tambuwal of Sokoto and Darius Ishaku of Taraba, said the Governor of the Central Bank of Nigeria, Godwin Emefiele, gave the council a brief report on the agencies that were involved in the practice.

Ayade specifically mentioned the Nigerian National ‎Petroleum Corporation (NNPC), Nigerian Maritime Administration and Safety Agency (NIMASA) and Nigerian Port Authority (NPA). He however said that the atrocity was not limited to the agencies mentioned above.

Ayade said: “We received ‎a brief report on the FGN agencies remitting dollar revenues in naira into the Federation account from the CBN governor.

“He said investigations are on-going. Such agencies include but not limited to NNPC, NIMASA and NPA.”



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