The Nigerian National Petroleum
Corporation (NNPC) says it did not hide funds meant for the treasury single
account (TSA) in any commercial bank.
In a statement on Friday, the
corporation described as “misplaced and misleading,” reports that it did not
remit N8 billion and $470.5 million to the TSA.
The Nigeria Police Force had on
Thursday said it recovered N8 billion and $470.5 million belonging to the
NNPC’s Brass Liquefied Natural Gas hidden in some banks.
The names of the banks were not
mentioned.
But in its reaction, the state
oil firm said though a few commercial banks are yet to complete remittance of
US dollar deposits to the TSA, the federal government knew of and “received
periodic status reports on balances yet to be remitted by the same banks.
The NNPC said a presidential
directive was issued for the Central Bank of Nigeria (CBN) to ensure that the
funds were completely transferred to its TSA in US dollars.
“Most of the commercial banks
have since complied with the Presidential directive and completed transfer to
the Corporation’s Treasury Single Account in US dollars, including the reported
$470.5 million,” read the statement signed by Ndu Ughamadu, its spokesman.
“On the purported recovery of N8
billion by the Nigeria Police Force, the Corporation is not aware of any change
in the subsisting Presidential directive to the effect that all of the US
dollar balances must be transferred to NNPC’s CBN Treasury Single Account in US
dollars.
“In addition, no such funds have
been deposited into the Corporation’s CBN Treasury Single Account.
The state oil firm said subject
the funds to five percent whistle blowing fees would be “unreasonable and a
sheer waste of public funds”.
The NNPC said its “commitment to
transparency and accountability remains unwavering”.
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