Below is the extract of Senate approval of rejecting subsidy removal for now and ordering NNPC to refund $218,069,354.32, being the balance of the gross lifting under the third party financing to Federation Account. Read the full news from the below link

http://www.punchng.com/news/senate-rejects-fuel-subsidy-removal/

The senators however approved the committee’s recommendation that the Nigerian National Petroleum Corporation should refund to the Federation Account, the total sum of $218,069,354.32, being the balance of the gross lifting under the third party financing.

They also directed that inter-agencies reconciliation meetings between government institutions, including the Ministry of Finance, NNPC, CBN and the Federal Inland Revenue Service should be done on a regular basis.

It said such regular meetings among those sensitive economic institutions would prevent a recurrence of the situation and ensure that all revenues were properly and legally accounted for.

The Senate rejected the committee proposal to accept the N813.8bn subsidy deductions by the NNPC from January 2012 to July 2013, since it was certified by the Petroleum Products Pricing and Regulatory Agency and appropriated by the National Assembly.

It however accepted the subsidy deducted by the NNPC in the sum of N180bn for the fourth quarter of 2011, which was also certified by the PPPRA and appropriated by the National Assembly.

It advised the NNPC not pay its operational expenditures directly from the Federation Fund without appropriation by the National Assembly, saying the government oil corporation should strictly adhere to international best practises in keeping records.

It also cautioned that the NNPC should not control the revenue account of the Nigerian Petroleum Development Company so as not to undermine its separate legal status and make accountability more difficult.

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at last i made front page..nxt z ftc..i am a moving train.

thegreatman4ww: Below is the extract of Senate approval of rejecting subsidy removal for now and ordering NNPC to refund $218,069,354.32, being the balance of the gross lifting under the third party financing to Federation Account. Read the full news from the below link

http://www.punchng.com/news/senate-rejects-fuel-subsidy-removal/

Misleading headline. That is $218 Million not Billion.

Curlieweed:


Misleading headline. That is $218 Million not Billion.

Ok Thanks, just check again (I believe the kobo part deceived me). I dont know how to modify thread topic to effect the correction.

thegreatman4ww:

Ok Thanks, just check again (I believe the kobo part deceived me). I dont know how to modify thread topic to effect the correction.

But you know how to falsify thread topic?

Will NNPC listen to them?

The Topic should have been like : Senate To GEJ: Refund $218M To Federation Account

Mogidi:

But you know how to falsify thread topic?

Ur type are those ones ppl call e-(whatsoever) because the post u quoted clearly indicates no initial motive of misleading ppl with genuine intention to make correction but unable to do so because I do know how to go about it.
Instead of u proferring solutions, u come here to display of level of defecive logical reason.

Mind u errors/mistake can not equal falsification in a real sense of English because motive comes first before the action.