Nigerian National Petroleum Corporation (NNPC) spent nearly half of the money it earned in three years and remitted the other half to the federation account, it was revealed yesterday. The corporation earned N8.1trn from crude oil sales from 2012 to 2015, withheld N3.8trn and paid only N4.3 trillion to the national treasury. Officials of the corporation revealed these facts themselves while briefing members of the National Economic Council yesterday at the Presidential Villa, Abuja. They also said that former Minister of Finance and Coordinating Minister for the Economy Ngozi Okonjo-Iweala spent $2.1bn from the Excess Crude Account (ECA) without the approval of NEC. The governor of Edo State, Adams Oshiomhole, disclosed these while briefing State House journalists on the outcome of the four-hour meeting. President Muhammadu Buhari had inaugurated the National Economic Council chaired by Vice President Yemi Osinbajo. Oshiomhole said the NNPC and the office of the Accountant-General […]