Minister says NNPC has started refunding 'missing' $1.48bn

The refund is being made pursuant to the recommendations of audit firm, PriceWaterHouse Coopers.

Former Petroleum Minister, Diezani Alison-Madueke

The Minister of Petroleum Resources, Diezani Alison-Madueke has said that the Nigerian National Petroleum Corporation (NNPC) has started refunding the $1.48bn earlier unremitted funds into the Federation Account.

The audit into the NNPC’s affairs was ordered after former Central Bank Governor, Sanusi Lamido Sanusi alleged that $20 billion in funds had gone missing.

“The PriceWaterHouse Coopers forensic audit that was done few weeks ago in his recommendation mentioned that $1.48bn was owed by the NPDC for a block that had hitherto been assigned from the NNPC to the NPDC which is its subsidiary,” Alison-Madueke said on Wednesday, April 22, 2015, while speaking to journalists.

“They felt that the right process would be that the NPDC will refund that money to the Federation Account. The NPDC has apparently started those refunds and it is also in discussion with the NNPC and the DPR on same. So the refund has actually began,” she added.

The minister also denied reports that she was seeking asylum outside the country saying that she had not committed any crime.

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Bandits on rampage on Sokoto roads, kidnap scores of travellers

A vaccine for Malaria is almost here

Bakare to Buhari: 'God has turned against you, I dare you to come after me'

4 more Bethel Baptist High School students regain freedom

Lagos CP orders speedy investigation of LG elections offenders

VP Osinbajo calls for tech-driven legal system

PDP Governors demand electronic transmission of election results

COVID-19 creates opportunity for innovations - Osinbajo

LASIEC to issue certificates to winners of Lagos LG election on Tuesday