Business NNPC: How 'Missing' $10.8bn Was Expended -This Day

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abujagirl

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The Nigerian National Petroleum Corporation (NNPC) yesterday provided lucid details of how the controversial unremitted $10.8 billion was expended, saying subsidy payments, pipelines repairs, associated costs of spilled and stolen crude oil, and cost of maintaining strategic reserve accounted for a chunk of the money.

Central Bank Governor, Sanusi Lamido Sanusi, had in a letter to President Goodluck Jonathan claimed that NNPC could not account for crude oil receipts to the tune of $49.8 billion between January 2012 and July 2013

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