NPA, NNPC ‘didn’t remit dollar revenues to FG’ ….TheCable


The federal government is currently probing the Nigerian National Petroleum Corporation (NNPC), Nigeria Port Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA) and some other agencies for fraudulent acts.

Ben Ayade, governor of Cross River state, revealed this in Abuja on Thursday at the end of a meeting of the National Economic Council (NEC).

He said the agencies short-changed the federal government by remitting dollar revenues into the federation account in naira.

According to Ayade, Godwin Emefiele, governor of the Central Bank of Nigeria, disclosed this during the NEC meeting, presided over by Vice-President Yemi Osinbajo.

“We received ‎a brief report on the FGN agencies remitting dollar revenues in naira into the federation account from the CBN governor,” Ayade told reporters.

“Such agencies include but are not limited to NNPC, NIMASA and NPA.”

Ayade also quoted the permanent secretary of the ministry of finance as saying the excess crude account stood at $2.25 billion as at October 15.

He said nine states were  yet to apply for the concessionary loans approved by the federal government, adding that the applications of 27 states are currently being processed.

“The CBN governor also briefed us on the concessionary loans to states based on collateralisation of the excess crude account,” he said.

“He said 27 states have made request for the $10 billion facility and it is currently being processed. He has called on the affected states to complete all necessary documentations for the effective release of the said money.

Ayade further clarified that “not all states have expressed interest in the ECA collaterised loan”.