HighlightNews From MDA'S

Alleged Unrecovered TSA Funds: We Have no Hidden Accounts- NNPC

428

[dropcap]T[/dropcap]he Management of the Nigerian National Petroleum Corporation, NNPC on Thursday, once again provided informed perspective to the trending media report alleging that the Corporation colluded with some banks to prevent the remittance of some funds into the Treasury Single Accounts, (TSA), scheme as directed by the Federal Government.

The NNPC in a release by its Group General Manager, Group Public Affairs Division, Ndu Ughamadu, described the allegation as not only misplaced but equally misleading.

He said the Corporation had earlier taken steps to inform the Presidency, Office of the Accountant General of the Federation, (AGF) and the Central Bank of Nigeria, (CBN) on the existence of the said accounts prior to the creation of the Federal Government Asset Recovery Account.

The NNPC explained that it would be totally out of place to move the funds to the FG Asset Recovery Account as reported noting that it is unreasonable and sheer waste of funds to pay any agent 5 percent, whistle blowing fee for the phantom recovery of genuine NNPC funds which had been disclosed to the Presidency, CBN and other relevant stakeholders.

The Corporation said that based on this superior argument, the consultant appointed by government to investigate the alleged hidden remittances was instructed to withdraw the pending court case against some commercial entities at the Federal High Court, Lagos. .

The statement explained that in line with the directive of the Presidency, the apex bank is supervising the remittance of these funds to the CBN TSA Account and it has made great strides in this regard.

The NNPC reiterated that as an entity with fiduciary responsibility to the government and people of the Federal Republic of Nigeria, its commitment to transparency and accountability remains unwavering.

Leave a comment

Related Articles

Nigeria Set to Celebrate King’s Baton Relay en Route to Glasgow 2026

Nigeria will host the King’s Baton Relay from June 15th to 18th,...

Just in: FCTA crushes 601 impounded motorcycles

In a major crackdown, the Federal Capital Territory Administration (FCTA) on Tuesday...

Tinubu Congratulates Newly-elected Canadian Prime Minister, Mark Carney

President Bola Tinubu has congratulated Mr. Mark Joseph Carney on his election...

FCT Police Crack Down on Vehicle Thieves, Recover 3 Cars, Arrest Couple, 6 Others

The Federal Capital Territory (FCT) Police Command says it has recovered three...

Just in: Touting: FG orders one-stop unified screening at airports

In a bid to tackle the issues of disorder and touting within...

Atiku’s VP Candidate, Okowa, Endorses Tinubu’s Potential Re-Election Bid for 2027

The 2023 Vice Presidential candidate to PDP’s Presidential candidate, Atiku Abubakar and...

Why We Arrested E-Money — EFCC

The Economic and Financial Crimes Commission (EFCC) has revealed the reason behind...

CJN to NBA: Refrain from filing frivolous petitions against judges

Justice Kudirat Kekere-Ekun, the Chief Justice of Nigeria, has advised the Nigerian...

Just in: Lagos Socialite E-Money Faces EFCC Arrest for Alleged Foreign Currency Spraying

E-Money, a popular Lagos socialite whose real name is Emeka Okonkwo Daniel,...

KSA is Fine, Safe, Son clarifies

Amid swirling rumours about the alleged kidnapping of music legend, King Sunny...

Alleged $1bln Fraud: CBEX Promoter in EFCC Net

Adefowora Abiodun, a suspected promoter of the cryptocurrency trading platform Crypto Bridge...

Nigeria’s $750m DARES Initiative Gains Momentum with New REA Grant Signings, Targets N17.5m Nigerians

    The Rural Electrification Agency (REA) took a significant step towards...

112 electrocution fatalities: CJN urges judiciary to enforce industry safety regulations

With 112 electrocution fatalities and 95 injuries recorded in Nigeria’s power sector...

US Narcotics Bureau lauds NDLEA’s operational successes, pledges continued collaboration

As a testament to its reputation as one of the leading forces...

Cardinals to convene conclave, elect new Pope

The Vatican has announced that Catholic cardinals will meet on May 7...

South Africa Marks 31 Years of Freedom, Nigeria Extends Congratulations

The government and people of Nigeria have extended warm congratulations to South...

History Makers: Liverpool Claim Unprecedented 20th League Championship

By Samuel Akpan with agency report Liverpool have been crowned Premier League...

Breaking: Sexual harassment allegation: Suspended Sen. Natasha ‘apologizes’ to Akpabio

In a move that has been described as both an apology and...

Exclusive: FCT Set to Roll Out High-Capacity Buses As Abuja Terminals Near Completion

Abuja residents are buzzing with excitement as they count down to the...

US Grants Asylum to Over 800 Nigerians in Two Years

Over the past two years, 897 Nigerians were granted asylum in the...