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NNPC, 17 Others Fail To Remit $21bn Into Fed. Account.

Eighteen Federal Government’s revenue generating agencies failed to remit N526bn and $21bn into the Federation Account between 2010 and June 2015, an audit commissioned by the National Economic Council has revealed.

The Minister of Finance, Kemi Adeosun, has therefore recommended that the affected agencies be made to refund the money.

Gombe State Governor, Ibrahim Dankwambo, disclosed this to State House correspondents at the end of a meeting of the NEC presided over by Vice-President Yemi Osinbajo at the Presidential Villa, Abuja on Wednesday.

The council chaired by the Vice-President has all state governors, Governor of the Central Bank of Nigeria and relevant ministers as members.

Dankwambo explained that the shortchanging by the agencies was detected by an audit firm, KPMG, which was contracted by the NEC to carry out a forensic audit of revenue remittances to the Federation Accounts by the NEC.

The governor listed the government agencies indicted of underpayment by the audit report to include the Nigerian National Petroleum Corporation, Federal Inland Revenue Service, Nigeria Customs Service, Nigerian Ports Authority, Nigerian Maritime Administration and Safety Agency and the Nigerian Communications Commission.

Others are the Central Bank of Nigeria, the Department of Petroleum Resources and the Nigerian Petroleum Development Company, among others.

Apart from refunding the money, Dankwambo said a sub-committee would be set up to look into the details of the infringement.

He said those found to be criminal in nature would be handed over to the Attorney General of the Federation for action.

The governor said, “KPMG presented the report of the technical audit of RGAs, concluding that a total sum of N526bn and $21 bn was underpaid to the Federation Account.

“NEC’s Ad-hoc Committee which I head with members including governors of Edo, Kaduna, Akwa Ibom, Lagos states and the finance minister recommended refund of the amounts underpaid.

“Council adopted the presentations and reports of the KPMG and the recommendations of its Ad-hoc Committee including a resolution to identify instances where there appears to have been criminal infringements and forward such to the Attorney General of the Federation and the Legal Committee of the National Economic Council for further action.

“Council resolved to pursue the strengthening of the NNPC’s governance structure to prevent further recurrence of such gross underpayment by the NNPC and other RGAs.”

The governor said it was resolved that the audit period be extended to June 2017.

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About Olaniyi Apanpa (470 Articles)
Olaniyi Apanpa is a media practitioner and sports enthusiast. Contact at greenballmedia51@gmail.com

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