The Nigerian National Petroleum Corporation (NNPC) on Friday debunked media reports alleging that the Chief of Staff to the President, Abba Kyari authorized the Corporation not to remit over $50bn to the Treasure Single Account (TSA) in flagrant disregard to the policy. The report had claimed that the Group Managing Director of the Corporation, Dr. Maikanti Baru stated this while appearing before the National Assembly.
Debunking the claim, the Corporation in a statement issued to newsmen said the report was far from the truth although it had made several compelling cases to the presidency to allow certain categories of accounts operate outside the TSA. The statement read in part;
"NNPC wishes to state that the allegation is baseless, and is a clear misrepresentation of the truth. An online publication made the allegation recently. By virtue of the operations of the NNPC, the Corporation had made series of compelling cases to the Presidency and the Central Bank of Nigeria to allow certain categories of accounts operate outside the TSA, as they contain co-mingled funds governed by detailed agreements with local and international implications.
NNPC equally wishes to state that while these necessary approvals sought by the NNPC were graciously given by the Presidency, the Chief of Staff merely conveyed the notice of these approvals to the Corporation. In the same vein, members of the relevant committee of the National Assembly have requested for copies of such approvals, which were duly provided by the Corporation."
"To claim that the Chief of Staff single-handedly approved these exemptions was not only unfair, but is a complete misrepresentation of facts to mislead the general public," it added.
