Auditor General of the Federation, Samuel Ukura has confirmed the accusation by the sacked governor of the Central Bank of Nigeria (CBN), the then Sanusi Lamido Sanusi that the NNPC under Goodluck Jonathan withheld N3.2 trillion ($16 billion) in revenues from the federal government in 2014.
Sanusi Lamido is now the Emir of Kano.
The Auditor General, who presented his findings in a report to lawmakers at the National Assembly today, said that other government ministries and agencies had also failed to remit funds, taking the total not passed on to 3.3 trillion naira for 2014.
Ukura said that the report was based on an “examination of NNPC mandates to CBN (Central Bank of Nigeria) on Domestic Crude Oil Sales and Reconciliation Statement of Technical Sub-committee of Federation Account Allocation Committee (FAAC) meeting held in January 2014.
“Amount not remitted to FAAC was N3,234,577,666,791.35,” the auditor-general said in his report.
Constitutionally, the Nigerian National Petroleum Company (NNPC) must hand over all oil revenue – which makes up about 70 per cent of total income – and money is then paid back based on a budget approved by parliament.
According to the latest figures on OPEC’s website, Nigeria’s oil exports are worth about $77 billion a year.
Development in Nigeria, Africa’s biggest oil producer and largest economy has been stunted by decades of corruption and mismanagement.
Recall that in 2014, the then central bank governor, Lamido Sanusi, was suspended after accusing the NNPC of failing to pay $20 billion into government accounts between January 2012 and July 2013. [myad]
Home BUSINESS Auditor-General Confirms Sanusi Lamido’s Accusation That NNPC Failed To Remit N3.2 Trillion...
The AGF should be fired bcos this is the 2nd time his office is gave two versions of contradicting reports on this matter. When the matter was first blown the AGF denied there was such fraud. Nigerians now know the truth albeit late.