The Nigerian National Petroleum Corporation, NNPC, yesterday, denied any wrongdoing over its failure to remit about $13.294 billion to the Federation account over a nine-year period, stating that the funds were utilized legally in running its operations, while the balance of the funds had been transferred to the Central Bank of Nigeria. The NNPC was reacting to the latest report released by the Nigerian Extractive Industries Transparency Initiative, NEITI, which indicted it for the non-remittance of $3.8 billion and N358 billion in 2013; and $12.9 billion, being dividends received from the Nigerian Liquefied Natural Gas, NLNG, from 2005 and 2013. Speaking at the NEITI Stakeholders’ Dialogue on the 2013 NEITI Oil, Gas and Solid Minerals Reports in Abuja, Mr. Godwin Okonkwo, Group General Manager, Debt Management/Federal Allocation of the NNPC, maintained that the NLNG dividends were never misappropriated or withheld by the NNPC, but that every amount spent from […]