The Nigerian National Petroleum Corporation on Friday
gave details of the contentious $10.8 billion crude oil fund, saying the money
was not missing.
The amount is part of the $49.8 billion alleged to have
been unremitted to the Federation Account by the NNPC.
Mr Bernad Otti, the Group Executive Director, Finance and
Accounts Directorate of NNPC, at a press briefing in Abuja declared that “the
$10.8 billion, which is currently the subject of ongoing inter-agency
reconciliation exercise is not missing.”
“The sum in question has been expenditures incurred as
part of statutory responsibilities, which the NNPC, as the national oil
company, executes on behalf of the Federal Government,” he said.
He explained that issues surrounding the alleged $49.8
billion said not to have been remitted, were clarified at a joint press
conference by NNPC, the Central Bank of Nigeria, Ministry of Finance and
Ministry of Petroleum Resources in December, 2013.
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