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NNPC Fails To Remit N1.7tr Into Federation Account

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The Federation Account Allocation Committee (FAAC) meeting was called off last Thursday over the non-remittance of about N1.78 trillion into the government’s coffers by the Nigerian National Petroleum Corporation (NNPC), The Nation learnt yesterday.

About N1.32trillion of the outstanding was unpaid by the NNPC during former President Goodluck Jonathan’s administration.

The whereabouts of the cash remains unknown.

Also, from January 2016 to September 2017,  NNPC  has about N460. 649bilion yet to be remitted into the Federation Account.

The states have queried why such  huge cash from crude oil sales revenue will be tagged “outstanding”  by NNPC since 2010.

They also demanded an update from the NNPC on about $ 172,913,617.30million outstanding payments from the NLNG Feedstock sales, Chevron Cheetah Project, Royalty Oil Sales Value lifting by TEPNGA MCA, RDP Price Review and others.

But, the Minister of Finance, Mrs. Kemi Adeosun, who inherited the challenge of reconciliation between the states and NNPC at the FAAC, is said to be addressing  the matter.

The minister, who is determined to bring the states back to the FAAC meeting, may also address the press on the stalemate.

The NNPC is insisting that  FAAC owes it about N797billion, being cost of product and pipeline losses.

It has asked the FAAC to give it a three-month grace to compile the lost data from its area offices  as demanded by states and to complete a forensic audit of same.

Although the three-month period will lapse by the end of November, the states  are insisting that there will be no FAAC meeting until the non-remittance of the N1.78trillion is resolved.

Investigation revealed that the states had raised concerns over the NNPC’s outstanding N1.78trillion at the FAAC Post-mortem Sub-Committee meeting on October 23 but the Federal Government did not know that it would degenerate to a likely boycott of the FAAC meeting last Thursday.

According to a document, which was obtained by The Nation, the FAAC analysis for October 2017 fuelled the anger of the cash-strapped states.

The analysis, which was prepared by  the FAAC Post-mortem Sub-Committee meeting, raised eight issues for the NNPC to clarify. They include the non-payment of N1.78trillion into the Federation Account.

In the document, signed by the Chairman, FAAC Post-mortem Sub-Committee, Dr. Casimir I. Anyanwu, the committee gave the highlights of NNPC’s outstanding payments into the Federation Account during Jonathan administration and under the current administration.

About N1.32trillion revenue from 2010 to 2015 is yet to be remitted by NNPC; about N460.649 has been unpaid between January 2016 and September 2017 bringing the total to N1.78trillion.

The document said: “The Gross Domestic Crude Revenues between 2010 and 2015  amounted to N5, 351,114, 508, 433.79(trillion); the PPPRA’s certified NNPC subsidy from 2010 to 2015 was N4, 026, 369, 698, 361.62(trillion) and the Net outstanding revenues due to Federation is N1,324,744, 810,072.12(trillion).

“The statement of NNPC Gross Domestic Crude Oil Sales Revenue due to Federation Account for the period January 2016 to September 2017 is as follows: Crude Volume(220, 619,908); Value of domestic crude purchase (N2,573,022, 429, 022.30 trillion); NNPC payment to the Federation Account(N2,112, 373, 341, 362.49 trillion); Gross Outstanding due to the Federation Account (N460,649,087,660.12 billion).”

The NNPC is said to be holding on to some outstanding payments because FAAC is yet to refund the N797billion it incurred as product and pipeline losses.

But this claim has been faulted by states because there is no proof from the oil giant.

All the stakeholders are said to be demanding a forensic audit of NNPC’s losses and how these led to the N797billion bill.

Another document added: “On the product loss and pipeline repairs which NNPC was claiming, the Ad-hoc Committee recommended to the Sub-Committee to visit NNPC in order to:

  • Verify and ascertain approvals to incur the expenses
  • Examine all contractual agreements on pipeline repairs
  • Identify the Strategic Reserves locations
  • Examine the intervals at which the Strategic Reserves are kept and discharged.

“That the request by NNPC to include the sum of N797billion as contained in the recommendations of the Tripartite Committee of Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), the Federal Ministry of Finance(FMF) and NNPC should not be granted because of the clause that ‘no refund should be made to any of the parties pending the conclusion of the Forensic Audit up to 2015.’

“The Secretary FAAC Post-Mortem Committee informed members that the report had taken into consideration the observations raised by the NNPC when the report was initially presented in March 2015.

Also commenting, the AD Allocation of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) reemphasised that the product and pipeline losses could not be ascertained yet because NNPC requested to be given three months to compile the data from the various area offices.

“Also, on the issues of N797billion, which was granted to NNPC in the interim report of the Tripartite Committee, the amount  had been verified.

“However, there was a clause in the interim report that stated that no party would be paid until the forensic audit was completed.

NNPC, it was learnt, plans to meet the  Ministry of Finance and other FAAC members today.

A source said: “The governors are seeking more transparency in  accruing revenue and remittances into the Federation Account. They have also demanded that NNPC should clear the backlog of outstanding payments into the Federation Account.

“All the states have insisted that NNPC must increase its inflow into the Federation Account. They believe what the corporation is doing could be tagged under-declaration of revenues.”

 

 

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Sourced From: Nigeria Newspapers Online

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Corona Virus

NIgeria Records 87 New Cases Of COVID-19, Total Infections Now 1,182

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By Abujah Racheal

Nigeria has recorded 87 new cases of the COVID-19, bringing the total infections to 1,182 , according to the Nigeria Centre for Disease Control (NCDC).

The NCDC, in a tweet via its official handle, said 33 of the new infections were recorded in Lagos, 18 in Borno, 12 in Osun, nine in Katsina, four each in Kano and Ekiti, three each in Edo and Bauchi and one in Imo.

“As at 11:55 pm April 25, there are 1,182 confirmed cases of COVID-19 reported in Nigeria.  The country’s total deaths from the virus now stand at 35, while 222  have been treated and discharged,” it said.

The centre said as at 11:55 pm, April 25, Lagos has 689, FCT-138, Kano-77, Ogun-35, Osun-32, Gombe-30, Katsina-30, Borno-30, Edo-22, Oyo-18, Kwara-11, Akwa Ibom-11, Bauchi-11, Kaduna-10, Ekiti-8 and Ondo-4.

Others are Delta-six, Rivers-three, Jigawa-two, Enugu-two, Niger-two, Abia-two, Zamfara-two,  Sokoto-two, Benue-one, Anambra-one, Adamawa-one, Plateau-one and Imo-one.

Sourced From: News Agency of Nigeria

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Daily Trust

2 Women Crushed To Death On Lagos – Ibadan Expressway

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Two women were crushed to death in a road crash involving a Mack truck and a motorcycle around Lotto, beside NNPC filling station on the Lagos – Ibadan expressway.

The accident occurred around 8:02am on Saturday when the truck marked FST 984 XX lost its brakes and hit the moving motorcycle, killing the women.

The spokesperson of Traffic Compliance and Enforcement Corps, Babatunde Akinbiyi,  confirmed the incident to newsmen in Abeokuta.

”The truck and the motorcycle were both on the outbound lane from Lagos when the crash happened due to break failure on the  part of the truck driver.

“The vehicle and the motorcycle are with the police at the Redeemed Police Station, along with the driver of the truck,” he said.  Akinbiyi explained that the rider of the motorcycle was nowhere to be found after the accident.

He disclosed that  the remains of the deceased had been deposited at the morgue of Olabisi Onabanjo University Teaching Hospital, Sagamu.

Sourced From: Daily Trust

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Tribune

Mentally-Challenged Man Axes 70-Year-Old Father To Death

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A 37-year-old man said to be mentally-challenged has used an axe to kill his father, aged 70 in Unuchiana Village, Aguata Local Government Area of Anambra State.

Tribune Online learnt that the suspect allegedly axed his father to death in their compound.

Confirming the incident in a statement, the Anambra State police command’s public relations officer, SP Haruna Mohammed, said one Timothy Ezeofor reported that his elder brother, 70-year-old Godwin Ezeofor, was allegedly murdered by his son, Chigorom Ezeofor using an axe.

According to Mohammed, at about 9:45am on Friday, one Mr Timothy Ezeofor of Umuezegoro Kindred, Unuchiana Village, reported at Aguata Police Station that at about 8:00am of same day, his elder brother, Godwin Ezeofor of the same address was murdered by his son, one Chigorom Ezeofor, of the same address using an axe.

He said the complainant alleged that the suspect had been mentally ill for the past eight years.

The police spokesman said following the report, police operatives attached to Aguata Division led by the DPO, CSP Ayeni Oluwadare, mobilised to scene and rushed the victim to the hospital where he was pronounced dead by a medical doctor and the corpse has been deposited at a hospital mortuary for autopsy.

He also said the suspect who “looks insane” had been arrested and taken to the station for investigation to ascertain circumstances surrounding the incident.

Sourced From: Tribune Online

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This Day

COVID-19: Police Arrest Bishop For Defying Lockdown To Protest At Chinese Embassy In Lagos

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By Chiemelie Ezeobi.

The Lagos State Police Command has arrested the General Overseer of Resurrection Praise Ministries for Africa alias Jehovah Sharp Sharp, Archbishop Samson Benjamin, for defying the lockdown order to protest at the Chinese Embassy in Lagos.

Benjamin, the police alleged, led about 100 persons to the Chinese Embassy in Victoria Island to protest the maltreatment of Nigerians in China.

According to the cleric, the Chinese were operating freely in Nigeria despite that COVID-19 started in their country but have chosen to maltreat Nigerians and other blacks in China.

It was gathered that officials of the embassy sent a video clip of the alleged invasion to the police which prompted operatives from Victoria Island Division to move to the scene to effect the arrest.

A police source who spoke on anonymity said the cleric was being detained at the State Criminal Investigation and Intelligence Department, (SCIID), Yaba and may be arraigned in court on Wednesday.

In the video, the bishop denied going to the embassy with 100 persons, insisting that he was there by himself to register his displeasure over the ill-treatment of Nigerians in China.

Efforts to reach the spokesman for the state police command, DSP Bala Elkana, proved abortive as he didn’t return the message sent to him as at press time.

 

Sourced From: THISDAYLIVE

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