The General Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Andrew Yakubu, has stated that the Central Bank of Nigeria is playing politics with an allegation that it withheld over $49 billion in Revenue from the account of the Federation.
Speaking to journalists in Abuja on Friday, Yakubu said, ”The allegations are totally unfounded and baseless, as it has become a political instrument in the current politically charged environment.”
He added, “When this issue came up about four months ago, we made our clarification to the Hon. Minister of Petroleum Resources. For it to surface at this time that the political atmosphere is charged, we are taken aback. It is left for you journalists to do your investigative journalism to unravel the reason behind this attack.”
Making more clarification on the crude receipts forwarded to CBN by the NNPC , the GMD said: “Proceeds from equity crude is paid by the NNPC into the Federation Account which is held by the Central Bank of Nigeria. Similarly, the proceeds from Tax oil or Petroleum Profit Tax lifted by NNPC is paid directly into the Federal Inland Revenue Service (FIRS) account also managed by the CBN.
“It should now be clear to all that NNPC is by statutory requirement responsible for direct remittances of only one stream of lifting, namely Equity Crude.”
He further said that the allegations were an attempt to ridicule the management and staff of the NNPC.
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