There are no different accounts for NNPC subsidiaries: Corporation Fires Back at Reps

Must Read

We Will Not Negotiate With Bandits: Yahaya Bello

  Kogi state governor, Yahaya Bello says he will not negotiate with bandits as his administration would deal ruthlessly with...

Barcelona Survives Copa Del Rey Exit Scare

Antoine Griezmann brace ensured La Liga leaders, Barcelona qualified for the fourth round of the Spanish Copa Del Rey. The...

I Don’t Know Why UK Is Protecting Diezani: Magu

  Ibrahim Magu, acting chairman of the Economic and Financial Crimes Commission (EFCC), says the UK is protecting Diezani Alison-Madueke,...

Amotekun, A Vote Of No Confidence On Buhari: PDP

The Peoples Democratic Party (PDP) has expressed that the governors of South West have passed a vote of no...

Amotekun: Deji Adeyanju Declares Akeredolu Southwest Hero

Popular human rights activist, Deji Adeyanju has hailed the governor of Ondo State, Rotimi Akeredolu on his commitment in...
Roti
News is my life; my life is good news!

Speaker Aminu Tambuwal
Speaker Aminu Tambuwal

The row between the Nigerian National Petroleum Corporation (NNPC) and members of the House of Representatives continued on Monday as the NNPC pointedly told the House of Representatives Committee on Finance that the laws setting up its subsidiaries only emphasised on NNPC account and not the subsidiaries’ account.

Earlier, the House had claimed that the NNPC was shielding its committee from accessing the financial records of its 16 subsidiaries. This was part of the fallout of the investigative hearing into the non-remittance of internally generated revenue into the Consolidated Revenue Fund by revenue generating agencies of the Federal Government.

The committee had been having issues with the NNPC over the financial records presented by it on behalf of all its subsidiaries, and the chairman of the committee, Honourable Abdulmumin Jibrin, had insisted that individual accounts of the subsidiaries should be submitted for scrutiny.

Therefore, at the hearing on Monday, the NNPC Group Executive Director (Finance), Mr Bernard Otti, informed the committee that its entire subsidiaries had no individual accounts of their own. According to him, “accounts of the subsidiaries are consolidated with that of the NNPC. There is only one account; there is no different account for the subsidiaries.”

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More Articles Like This

- Advertisement -