06 October 2017, Sweetcrude, Lagos — The Nigerian National Petroleum Corporation (NNPC) Thursday, said it did not collude with banks to ensure the non-remittance of $793.2 million into the Treasury Single Accounts (TSA).
The NNPC in a statement by its Group General Manager, Group Public Affairs Division, Ndu Ughamadu, explained that the allegation is 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.
Ughamadu 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, whistleblowing fee for the phantom recovery of genuine NNPC funds which had been disclosed to the Presidency, CBN and other relevant stakeholders.
He further provided clarification on the actual lodgments, stating that 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.
He added that in line with the directive of the Presidency, the apex bank is supervising the remittance of these funds to the CBN TSA Account and it has made great strides in this regard.
He 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.