Friday, October 6, 2017
NNPC in non-remittance controversy from $231.8m lodgements in 5 banks
Barely 48 hours after the Minister of State, Petroleum Resources, Dr Ibe Kachikwu alleged several under-hand dealings of the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, the national oil company is in the news again over alleged unremitted $793.2 million belonging to the Federal Government. According to reports, the current NNPC management had stashed the money in different commercial banks instead of remitting same to the Treasury Single Account (TSA) as required by law.