L
LequteMan
Guest
The Nigerian National Petroleum Commission, NNPC and other government agencies in the petroleum sector, has been hit by a query from the Auditor General of the Federation over an alleged diversion of N2.30 trillion from the Federal Government’s (FG) purse.
The amount, classified as Excess Crude Oil/PPT/Royalty, is part of the nation’s total oil and gas revenue for 2012.
The Auditor-General raised the query in the just-concluded 2012 audit report submitted to the House Committee on Public Accounts.
A breakdown of the illegal deduction showed that the sum of N477.44 billion was in favour of NNPC; N377.26 billion in favour of Department of Petroleum Resources (DPR) while the sum of N1.45 trillion was in favour of the Federal Inland Revenue Service (FIRS).
The deduction, the Audit report argued, was in contravention of section 162(1) of the 1999 Constitution, which provides that “the federation shall maintain a special account to be called ‘The Federation Account’ into which shall be paid, all revenues collected by the government of the federation, except the proceeds from the personal income tax of the personnel of the Armed Forces of the federation, the Nigeria Police Force, the Ministry or Department of government charged with responsibility for Foreign Affairs and the residents of the FCT.”
In this latest report, the Auditor-General lamented that, “efforts by the audit team to obtain legal authority for the creation of the Excess Crude Oil/PPT/Royalty Account, proved abortive.
It will be recalled that the PriceWaterHouse (PWC) forensic audit report recommended that the NNPC should refund at least N1.48 billion to the federation account.
#Nigeria #NNPC
The amount, classified as Excess Crude Oil/PPT/Royalty, is part of the nation’s total oil and gas revenue for 2012.
The Auditor-General raised the query in the just-concluded 2012 audit report submitted to the House Committee on Public Accounts.
A breakdown of the illegal deduction showed that the sum of N477.44 billion was in favour of NNPC; N377.26 billion in favour of Department of Petroleum Resources (DPR) while the sum of N1.45 trillion was in favour of the Federal Inland Revenue Service (FIRS).
The deduction, the Audit report argued, was in contravention of section 162(1) of the 1999 Constitution, which provides that “the federation shall maintain a special account to be called ‘The Federation Account’ into which shall be paid, all revenues collected by the government of the federation, except the proceeds from the personal income tax of the personnel of the Armed Forces of the federation, the Nigeria Police Force, the Ministry or Department of government charged with responsibility for Foreign Affairs and the residents of the FCT.”
In this latest report, the Auditor-General lamented that, “efforts by the audit team to obtain legal authority for the creation of the Excess Crude Oil/PPT/Royalty Account, proved abortive.
It will be recalled that the PriceWaterHouse (PWC) forensic audit report recommended that the NNPC should refund at least N1.48 billion to the federation account.
#Nigeria #NNPC
