NNPC says no plans to refund N3.098trn to govt

Oscarline Onwuemenyi

08 June 2012, Sweetcrude, ABUJA - The management of the Nigerian National Petroleum Corporation, NNPC, has denied reports in the media claiming that it has agreed to refund the sum of N3.098 trillion to the Federation Account.

The said report is alleged to be part of a recommendation of the House of Representatives Joint Committees on Finance, Petroleum Upstream, Petroleum Downstream, and Gas Resources.

In a statement issued to the media signed by the Acting Group General Manager NNPC Group Public Affairs Division, Mr. Fidel Pepple, NNPC management states that it is not aware of any report that requires it to refund the sum of N3.098 trillion and that as a responsible corporate body would rather not dwell on speculations and rumours.

He stated that, “The NNPC Management has been drawn to some Newspaper reports which alleged that the Corporation has failed to remit the sum of N3.098 Trillion to the Federation account between 2004 – 2011.

“NNPC is undaunted in its resolve to continue to render her statutory duties to the nation while contributing more than 90 per cent of the nation’s foreign earning,” he noted.

He advised the media to always cross-check their facts before going to press especially in view of the damage that unsubstantiated reports could do to the corporation, the industry and the nation.