12th July, 2014
The NNPC said it would continue to engage the National Assembly in dialogue over directive to remit $218 million into the Federation Account.
The Group Managing Director of NNPC, Andrew Yakubu, said this in Uyo on Friday while answering questions from energy correspondents at a media workshop organised by the corporation.
The Senate on Thursday 10 July asked NNPC to remit $218,069 million to the Federation Account.
The amount is said to be part of unremitted $49.8 billion from oil sale by NNPC from the removal of fuel subsidy as alleged by Malam Sanusi Lamido Sanusi, former Governor of CBN.
The Senate ordered the refund “being the share of the federation from third party financing agreement.”
Yakubu stressed that NNPC would continue to explain to the senate that the said funds were spent on operations of the corporation to avert fuel crisis in the country.
According to him, the corporation engaged in business ventures that necessitated the spending.
“We will collect the report, we will look at it again and we will continue to explain.
“It is left for them to judge, I am an accused, I cannot be a judge in my case. Should I be punished for doing the right thing?
“We will continue to talk, to see, maybe, by and large, they will have a change of mind,” he said.