The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Engr. Andrew Yakubu, on Friday described the Central Bank of Nigeria (CBN) Governor, Mallam Sanusi Lamido Sanusi’s claim that the corporation failed to remit $49.8 billion into the Federation Account from January 2012 to July 2013 as a “political instrument for the 2015 general elections.”
Yakubu, who spoke at a world press conference at Abuja, said it is a baseless and unfounded allegation targeted at ridiculing the management of the NNPC.
He said: “In conclusion, I want to say from what I have said clearly that the allegation is unfounded.
It is baseless and it has become a political instrument in the current politically charged environment.
And we consider this as an attempt to ridicule the corporation and its management.”
Asked to explain what he meant by political instrument, the NNPC boss added, “So, I am taken aback that this issue that came up about four months ago, we made our clarification to the Hon. Minister of Petroleum Resources four months ago and for it to surface at this time that the political atmosphere is charged, then we find it difficult.
We are taken aback, then it is left for you journalists to do your investigative journalism to unravel the reason behind this attack.”
Yakubu, however, explained that NNPC crude oil lifting include equity crude, royalty oil, tax oil, volume for third party financing and Nigeria Petroleum Development Company equity volume.