http://www.pmnewsnigeria.com/2016/03/16/nnpc-denies-embezzling-n3-2trillion/

The Nigerian National Petroleum Corporation, NNPC has debunked a report by the auditor-general which alleged that it had failed to remit 3.2 trillion naira ($16 billion) in revenues to the government in 2014.
The state-owned company said Samuel Ukura, the auditor was wrong.
Rather, it said, it only owes $1.64 billion.
The auditor-general made the allegations in a report two days ago.
“NNPC wishes to state in strong terms that the AuGF’s (Auditor General of the Federation’s) declaration is erroneous,” it said in a statement, adding that the auditor-general had failed to account for costs including a fuel subsidy, pipeline vandalism and maintenance.
“Consequently, the figure owed to the Federation Account as at January 2015 Federation Account Allocation Committee (FAAC) meeting report was N326,142,137,205.79 ($1.64 billion)…and not the N3.23 trillion alleged by the AuGF,” said NNPC.
Under the constitution, the Nigerian National Petroleum Corporation (NNPC) must hand over its oil revenue – which makes up about 70 percent of total income – and money is then paid back based on a budget approved by parliament.
But the act establishing the state oil company allows it to cover costs before remitting funds to the government.

The truth is simple. This government lacks idea about how to move our country forward. Therefore, they must always invent distractions to take our eyes away from their many failures. Now, it is no longer the NNPC of PDP that is denying their lies, but their own NNPC. What a coordination of government business.

Even his boss is always wrong. Am not surprised

It's APC NNPC that is saying this and not PDP NNPC wow something is wrong with APC, APC will kill Nigeria

U see! That general is not qualified! Or nnpc Don pocket the money! And they came up with this

I've never believed that figure.


APC has turned N1tr into N10. These figures don't move me anymore. May be the sound of 1 zillion scandal would.

I would rather they translate N10m into a visible project, than have N1trn on ThisDay Newspaper.

However, they still have some money to balance and where is the money?

Whether is trillion or billion, just remit the money ASAP! @ least u admit u have to remit money.

Nigerian Youths rarely comprehend before they fire back. they read and listen to respond but not to understand before responding.
if I understand clearly what this man is saying is that there were cost as much as about 3tr which the auGF didn't put into consideration thereby giving him that figure he claimed that NNPC is keeping. if this is tru, let him give us his own break down of the cost.

Another Lie Bursted

Those thieves at nnpc should sharrap . When the audit firm came, they did not enjoy full co-operation from them; they did not present all the receipt requested of them , hence , the shabby report we got from the firm. Now AG is indicting them, and they are trying to deny.
Magu, pls pick Oniwon and Andrew yakubu up. Most of those 'non-remittance' took place under their watch as MD nnpc.

APC still keeps on releasing figures from planet Jupiter. They know nothing about proper accounting, even their budget can attest to that but you will see them accuse others with bogus amount. All this, is just to keep their zombies busy while they milk them dry.

Where did APC media get the bogus figures from? All their cooked stories are always refuted by the accused

Bt u still dey owe sha ni

the week has almost ended, by Monday expect to hear another gigantic figure being released.

probably finance ministry discovers $300 billion syphoned by politicians from 2014..

Okay.

for nine months now....i have only been hearing big big figures syphoned...personally am tired of listening to words I want to see action

Nairaland.com and other media organizations that had the previous news as major headline show do same for this news.

who will d dullard blame now, GEJ confused govt.

NNPC if the AuGF failed to account for such expenses then there is a disagreement which could mean that he did not believe the money was wholly, exclusively, necessarily and reasonably spent for the purpose they are meant for.

So either way, una don chop our money.

K

Huh?!

I hear u!

So tell us the right thing.

NNPC always cooking up numbers





ThefakeStan

G

So who's right?

WTF ?

How much is it ?


Where are the auditors ?

k