Business Nigeria: NEC Appoints 4-Man Committee to Probe NNPC's Missing Oil Funds

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LequteMan

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The newly inaugurated National Economic Council chaired by Vice President Yemi Osinbajo, has formed a four man committee to probe scrutinize the accounts of the Nigerian National Petroleum Corporation over the Excess Crude Account managed by the last administration.

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According to PUNCH, the probe was meant to unravel N3.8trillion not remitted to the Federation Account by the NNPC between 2012 and May 2015 as well as $2.1bn said to have been deducted from the ECA without approval.

Speaking after the meeting in Abuja, Zamfara State Governor, Abdulazeez Yari says "the four-man committee will check the books of NNPC, most especially the issue of excess crude and what is not remitted into the Federation Account.

“The FG, in conjunction with the CBN, will look inwards to see how to support, how much they will give to states especially on the issue of outstanding salaries owed by the states and even the Federal Government.”

See Members of Committee Appointed to Probe NNPC's Missing Oil Funds
 
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