Chairman of Fiscal Responsibility Commission, Victor Mururako, has declared that the commission has no record of remittances by Nigerian National Petroleum Company Limited (NNPCL) as expected by law.
Mururako accused the NNPCL of meeting the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) and the Office of Accountant General of the Federation to resolve disputes regarding their operating surplus remittances while ignoring the FRC for such reconciliation.
He stated this, yesterday while appearing before the House of Representatives Committee on Finance monitoring revenue accrued by Ministries, Departments and Agencies of the Federal Government.
Represented by Victoria Adizou-Angakuru, he said: “Ours is just a plea as regards their remittance to the purse of the government, which is the CRF.
“The commission has observed that NNPCL has not been having a good rapport with FRC. They have been meeting other agencies like RMFAC and OAGF to resolve disputes regarding their operating surplus remittances but they have never come to FRC for reconciliation.
“Our table shows that from 2007 to 2018 we have computed the liabilities against NNPCL, but we are not saying these liabilities still exist; we don’t have any evidence as against any remittance they could have made.”
She added: “We want to plead that they should also meet with FRC the custodians of the Act which these other agencies are using to determine their liability.”
The Chief Financial Officer of the NNPCL, Umar Ajiya, said they had reconciled up to the point that they were no longer a corporation.
“As a corporation, we are obligated by law to remit operating surplus and we have evidence that we have remitted all that should be remitted,” he said.
Meanwhile, the House panel has placed the National Social Insurance Trust Fund (NSITF) on status inquiry from 2018 till date following inconsistencies in the submissions by the agency to the committee
The Managing Director of NSITF, Mrs Maureen Allagoa, appeared before the committee but delegated the responsibility to make their submission to the Director, Finance and Administration, Adedeji Adegoke.
The committee queried the agency over discrepancies in the submissions and resolved to place it on status inquiry.
The committee Chairman, Faleke, however, directed the NNPCL to reconcile its accounts and give feedback by next week, Wednesday.
