N37.76bn irregularity in NNPC remittance to FG account deadlocks FAAC meeting

The Minister of Finance, Mrs Kemi Adeosun, says she is meeting with the NNPC GMD over discrepancies in payment into the Federation Account.This is coming after the Federation Account Allocation Committee (FAAC) meeting on Tuesday became  inconclusive due to discrepancies of about N37.76 billion in revenue presented by the NNPC.

Adeosun, who is also the Chairman of FAAC, said she called for an emergency meeting next week with the Group Managing Director of NNPC, Mr Maikanti Baru and other key management staff over revenue payment into the Federation Account.

The Minister, in a statement by her Senior Adviser on Media and Publicity, Mr Oluyinka Akintunde, assured Nigerians that the FAAC meeting would hold on Wednesday at 9.00 am.

She said that the Accountant General of the Federation, commissioners of finance and Accountants-General of the 36 States would also be present at the meeting.

Similarly, she said that other representatives of the NNPC, Federal Inland Revenue Service, Nigerian Customs Service and Department of Petroleum Resources would also be at the meeting.