FG probes NNPC, NPA, others for remitting dollar revenue in naira 


    • Again, governors can’t pay salaries
    From Juliana Taiwo-Obalonye, Abuja
    Nigerian National Petroleum Corporation (NNPC), Nigerian Ports Authority (NPA) and the Nigerian Maritime Administration and Safety Agency (NIMASA) among other revenue generating agencies are currently being investigated for remitting naira equivalent of what they generated in foreign currency.
    The affected revenue generating agencies are alleged to be generating money in United States dollars but remitting same into the Federation Account in naira.
    This is even as the state governors have again cried to the Federal Government over their inability to pay workers salaries following the continuous dwindling revenue.
    The Cross River State Governor, Prof. Ben Ayade, disclosed this to State House correspondents at the end of the fifth National Economic Council (INEC) meeting presided over by Vice President Yemi Osinbajo inside the Presidential Villa, Abuja.
    Ayade who briefed the media alongside Governor Olusegun Mimiko of Ondo State; Governor Aminu Tambuwal of Sokoto State and Governor Darius Ishaku of Taraba State, said the Central Bank of Nigeria (CBN), was saddled with the responsibility of probing the agencies.
    “A brief report of Federal Government of Nigeria dollar generating revenue agencies remitting in naira into the Federation Account was also given by the CBN governor. He said investigations are ongoing. Such agencies include but not limited to NNPC, NIMASA and NPA,” Ayade said.
    “We also discussed the concessionary loans to states based on collateralisation of the Excess Crude Account. The CBN governor briefed that 27 states have made request for the $10 billion facility and it is currently being processed.
    “He has called on the affected states to complete all necessary documentations for the effective release of the said money.
    “It is important to note that not all states have expressed interest in the ECA collaterised loan,” he said.
    Ayade also said the Permanent Secretary, Ministry of Finance, briefed the council about the …Read More

    Source:: The Sun Newspapers