23 July 2017, Sweetcrude, Abuja — The Nigerian National Petroleum Corporation (NNPC), Friday, confirmed disclosed that it informed the Presidency, the Office of the Accountant General of the Federation, (AGF) and the Central Bank of Nigeria, (CBN) on the funds allegedly not remitted to the Treasury Single Account.
The NNPC in a statement by its Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, also stated that the funds in question was $231.8 million and not $793.2 million as erroneously stated.
A breakdown on the lodgments, according to the NNPC 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.
Ughamadu explained that allegations that it colluded with some banks to prevent the remittance of the money into the Treasury Single Accounts, (TSA) scheme as directed by the Federal Government, was not only misplaced but equally misleading.
According to him, the NNPC had earlier taken steps to inform the Presidency and other relevant agencies on the existence of the said accounts prior to the creation of the Federal Government Asset Recovery Account.
He said, “It would be totally out of place to move the funds to the Federal Government Asset Recovery Account as reported, as it is unreasonable and sheer waste of funds to pay any agent five percent, whistle blowing fee for the phantom recovery of genuine NNPC funds which had been disclosed to the Presidency, CBN and other relevant stakeholders.”
He further explained 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 added that the NNPC as an entity with fiduciary responsibility to the government and people of the Federal Republic of Nigeria, its commitment to transparency and accountability remained unwavering.