$20 bn oil money Fiasco: NNPC fails again to refund $1.48bn ​to ​Federation Account, says FAAC

The Federation Accounts Allocation Committee rose from its meeting late on Friday disappointed that the Nigerian National Petroleum Corporation failed for the umpteenth time to remit the $1.48bn reported by PriceWaterHouse Coopers in its forensic audit of the corporation.

Following the allegation by the former Governor of the Central Bank of Nigeria, Lamido Sanusi, that the corporation failed to remit about $20bn revenue from its operations in 2011, the audit firm had confirmed an unreconciled figure of about $1.48 billion, which NNPC agreed to pay as soon as possible........Read more

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