NNPC, other agencies underpaid govt N526bn, $21bn -NEC

NNPC, other agencies underpaid govt N526bn, $21bn -NEC

The National Economic Council, NEC, on Thursday disclosed that  N526 billion and 21 billion dollars were underpaid to the federation account by some Federal Government revenue generating agencies between 2010 and 2015.

The agencies include the Nigerian National Petroleum Corporation, NNPC.

Gombe State Governor, Ibrahim Dankwambo, made this known on Thursday while briefing State House correspondents shortly after the council’s meeting.

Vice President Yemi Osinbajo chaired the meeting.

He said the disclosure was made during the presentation of the report of the technical audit of the agencies to the NEC by KPMG.

According to him, the agencies involved were 16 and the Nigerian National Petroleum Corporation (NNPC) was one of them.

Dankwambo stated that it had however been recommended that the agencies should be made to refund the said money.

Also, the audit is expected to be extended to other agencies.

He added:  “One of the resolutions of NEC today is to extend the audit to June 2017. So, the audit will continue for the remaining agencies.

“It is NNPC, NPDC, DPR, Customs, Federal Internal Revenue Services, NPA, Maritime Authority, all the revenue generating agencies and the details of the infringement are contained in the report.

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“Because it is a voluminous report there are a lot of items that are there.

“The most important decision that was taken is that a sub-committee will be set up which will be an arm of the legal committee of NEC that will look into details of these kinds of infringements and make sure that those issues that are criminal and require prosecution will be handled by office of the Attorney General of the Federation.’’

Dankwambo said it was decided that the governance of NNPC would be strengthened to prevent a reoccurrence of under remittance.

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