The Nigerian National Petroleum Corporation, NNPC, has cleared the air on alleged financial breaches in its operations by the Special Presidential
Browsing: Accountant-General of the Federation
OpeOluwani Akintayo 31 August 2018, Sweetcrude, Lagos — The Federation Accounts Allocation Committee, FAAC said on Thursday that a new…
Oscarline Onwuemenyi 28 March 2018, Sweetcrude, Abuja – The monthly Federal Account Allocation Committee (FAAC) meeting, which began on Tuesday…
He said the Corporation had earlier taken steps to inform the Presidency, Office of the Accountant General of the Federation and the Central Bank of Nigeria on the existence of the said accounts prior to the creation of the Federal Government Asset Recovery Account.
Idris said the sum indicated a rise in the revenue shared by the three tiers of government of N169 billion for September compared to about N467.8 billion shared in August – inclusive of Value Added Tax (VAT).
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.
Crude oil production suffered due to leakages, sabotage, shut-ins and shut-downs at Terminals for maintenance and the Force Majoure declared at Forcados Terminal since February, 2016 subsisted.
31 May 2017, Sweetcrude, Abuja – The 10 oil producing states in the country received N22.64 billion as 13 per cent derivation…
According to Idris, the allocations from the Federation Account to the three tiers of government also declined by N52.07 billion from the N467.8 billion shared in March to N 415.73 billion in April this year.
“But let me also make a strong and important point. If not because TSA is in place and now that the recession is here, only God knows what would have happened. A monthly drain of over N4 billion and yet no revenue coming in and leakages continued. It could have been a disaster. It was government’s foresightedness and focus even as TSA was in place before the recession. And that is why we are floating and not sinking, and we will not sink God willing,” he said.
