The Nigerian National Petroleum Corporation (NNPC) in the last three years withheld and spent N3.7 trillion oil revenue without budgetary provision and approval.

Edo State Governor, Adams Oshiomhole, disclosed this to State House correspondent after the National Economic Council meeting chaired by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.

According to him, a total of N8.1 trillion generated from the oil sales during the period ought to have been remitted to the Federation account.

But instead, the governor said only N4.3 trillion was remitted to the Federation Account.

He also disclosed that the former Minister of Finance, Ngozi Okonjo-Iweala spent $2 billion from the Excess Crude Account between November last year and May this year without approval.

He said: “This is the first time we had a National Economic Council meeting in which under the instructions of the President, NNPC and the Office of the Accountant General of the Federation was compelled to provide information in black and white on issues as it relates to the total sales of Nigeria crude from 2012 to May 2015. This never happened before.

“What we saw from those numbers, which I believe Nigerians are entitled to know, is that whereas the NNPC claimed to have earned about N8.1 trillion, what NNPC paid into the Federation Account between 2012 and May 2015 was N4.3 trillion and NNPC withheld and spent N3.7 trillion.

“The cost of running NNPC is much more than running the Federal Government.”

He said that $4.1 billion was in Excess Crude Account as at November 2014 while the Accountant General’s Office reported that the balance as at today was $2.1 billion.

To this end, he said that Okonjo-Iweala spent $2 billion from the account without any approval by NEC.

Four state governors have been selected into a committee to probe the accounts.

http://thenationonlineng.net/new/nnpc-spent-n3-7tr-without-approval-oshiomhole/

The four towers of corruption abi.

Whether Nnpc removes the subsidy or not it won't stop Nigerians from getting their bank verification codes. Especially with ther deadline buhari's administration has initiated to frustrate the development of corrupt practices in diaspora

How many did CBN Sanusi spend without approval in his home state Kano and other northern states?

Jonabandit and his 40 thieves.
Including his 4 Jezebel co presidents.
Weak weak weak

They will not take this one to front page now o! Bloody tanoids. God will punish them all.

Ok na,we r watching in 3D **Grabs popcorn**

Front page pls

kITATITA:

Irresponsible remarks. How does that justify or mitigate the allegations? I'm appalled that some of you look at the figures and what's happening in the country and wave them off. Do you have a job? Can everybody around you afford his/her basic needs? You don't play politics with everything.

Me and Nigerian politics , You've got the wrong person .
I am affiliated only to my region and that is where my loyalty and allegiance lie.
I play the politics that will lead to the likelihood of an independent state for the Yorubas nation and which would likely solve most of the problems you enumerated above.
Including security.
If I may add , what was written here is only the tip of the iceberg. So I laugh.

oduastates:

Me and politics , You've got the wrong person .
I am affiliated only to my region .

You are funny though. Biko move/think beyond your region.

N3.7T, that's what chevron spends on reinvestment in two quarters. So, the NASS is suppose to micro manage NNPC. You people wonder why, after 40 years NNPC is nothing but a briefcase oil company.

Baba Osho, stay on your lane. NNPC is way above your pay grade.

He also disclosed that the former Minister of Finance, Ngozi Okonjo-Iweala spent $2 billion from the Excess Crude Account between November last year and May this year without approval.



“What we saw from those numbers, which I believe Nigerians are entitled to know, is that whereas the NNPC claimed to have earned about N8.1 trillion, what NNPC paid into the Federation Account between 2012 and May 2015 was N4.3 trillion and NNPC withheld and spent N3.7 trillion.





My question is, was there no/a president during that time?

Smh. The clueless slowpoke from otuoke was really clueless.

kITATITA:

You are funny though. Biko move/think beyond your region.

Why should I move or think beyond my region ?
There are people paid to do just that .
Like they say , you clean your house before that of outsider.
After 50 years of moving backwards, it is safe to say that it is not working and it will never work .
Nigeria is a failed state
That is why a part of me is happy that Tinubu is having to fight all the Nigerian devils .
Maybe he will stop investing so much into the Nigerian project like obasanjo and move into the SW default position of regional autonomy or outright independence.

atlwireles:
N3.7T, that's what chevron spends on reinvestment in two quarters. So, the NASS is suppose to micro manage NNPC. You people wonder why, after 40 years NNPC is nothing but a briefcase oil company.

Baba Osho, stay on your lane. NNPC is way above your pay grade.

Read this and find out why commonsense is not common afterall

fyneguy:


Read this and find out why commonsense is not common afterall

Almajiri go and die

As far as Oshiomhole is in APC I don't believe this news unless there is proof because APC is a party that dwell on lies and propaganda.