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NNPC FAILS TO REMIT 20 BILLION NAIRA TO FEDERATION ACCOUNT-SALI MAHMOUD

State Commissioners of Finance have accused The Nigerian National Petroleum Corporation (NNPC) of shortchanging  the Federation Account by N20 billion. The disagreement over NNPC remittances into the account from May revenue led to a deadlock of Federation Account Allocation Committee last week. The Chairman of the Forum of States Commissioners of Finance,  Mamoud Yunusa, told journalists in Abuja, Saturday night that instead of N 147 billion, NNPC remitted N127 billion. He added that the N3,5 billion which the corporation claimed to have spent on leaking oil pipelines was another area of contention as the Department of Petroleum Resources claimed ignorance of it. The logjam has affected prompt payment of June salaries of public servants. No new data has been set for FAAC.

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