Non-remittance of dollar: FG probes NNPC, NPA, NIMASA

In from Ali Smart . . .
The Nigerian National Petroleum Corporation (NNPC), Nigeria Ports Authority (NPA) and the Nigeria Maritime Administration and Safety Agency (NIMASA) have been penciled down for probes, by the Federal Government.
Godwin Emefiale, the Governor of the Central Bank of Nigeria (CBN) broke the news on Thursday at the National Economic Council (NEC) meeting in Abuja.
The affected agencies are being accused of remitting naira denomination to the Federation Account instead of the actual dollar revenue.
Four state governors of Cross River, Ben Ayade, Ondo; Olusegun Mimiko, Sokoto; Aminu Tambuwal and Taraba; Darius Ishaku briefed State House correspondents at the end of the NEC meeting presided over by Vice President Yemi Osinbajo.
Giving further details, Ayade said NNPC, NPA and NIMASA are among the government agencies fingered in the fraudulent remittances.
According to him, investigations are still on going on the remittances.
He said: “A brief report on the FGN agencies remitting dollar revenues in naira into the Federation account was also given by the CBN governor.
“He said investigations are on-going. Such agencies include but not limited to NNPC, NIMASA and NPA,” he added.

Read also: Buhari orders probe of weapon purchases under GEJ

He also said that the permanent secretary in the Ministry of Finance briefed the council on the excess crude account, which he said stands at $2.25 billion as at October 15th.
On the provision of provisional loans to states based on collaterisation of the Excess Crude Account (ECA), he said: “The CBN governor briefed that 27 states have made request for the N10 billion facility and it is currently being processed.
“He has called on the affected states to complete all necessary documentation for the same money to the 27 states.
The governor also said that as at Thursday not all states had indicated interest on the ECA collaterised loan.
He said that the Vice President also brief council on detail of the refund on excess expenses incurred by state government.
All the states that have followed the right procedure and due process in incurring expenses, he said, are being processed for refund.

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