According to the Nigerian Tribune investigation, Governor Sanusi’s position was contained in a letter to the president, dated September 25, 2013.
The CBN governor, in the letter, claimed that “between January 2012 and July 2013, the NNPC lifted 59,024,107 barrels of crude oil valued at $65,332,350,514.57.”
He alleged that out of the amount, the NNPC remitted only $15,528,410,098.77 to the Federation Accounts, representing 24 per cent of the value collected during the period.
According to the letter, “this means the NNPC is yet to account for and repatriate to the Federation Account, an amount in excess of $49.804 billion of the value of the oil lifted in the same period.”
The CBN governor told the president that the action of the NNPC did not only violate the provision of the constitution of the Federal Republic of Nigeria, but also against foreign exchange law.
He, therefore, urged the president to compel the NNPC to provide, among others, the evidence for disposal of all proceeds of crude oil sales diverted from the CBN and the Federation Accounts within the period.
The CBN boss also urged the president to order for investigation of the crude oil lifting and swap contact, while those found to be involved in the illegal dealings and delay in remitting the amount to the appropriate quarters should be prosecuted.
When contacted, the NNPC General Manager, Media Relations Department, Dr Omar Farouk Ibrahim, confirmed that the corporation had been asked to account for the transaction by the National Assembly, adding that the management had responded appropriately
While dismissing the allegation, he promised to produce further information to the Nigerian Tribune today.
Source: Tribune
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