FG probes NNPC, others for remitting dollar revenue in naira

The Federal Government is probing the Nigerian National Petroleum Corporation (NNPC), the Nigerian Maritime Administration and Safety Agency (NIMASA), the Nigerian Port Authority (NPA) and other agencies for remitting in naira denomination, revenues collected in dollars.

The governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, revealed this yesterday during the National Economic Council (NEC) meeting held at the Aso Rock Presidential Villa in Abuja.

Briefing State House correspondents after the meeting, Cross River State Governor, Ben Ayade quoted the CBN helmsman as disclosing that the agencies were currently being investigated over the matter.

“A brief report on the Federal Government agencies remitting dollar revenues in naira into the federation account was also given by the CBN governor. He (Emefiele) said investigations are ongoing. Such agencies include but not limited to NNPC, NIMASA and NPA,” Ayade said.

He said the CBN governor also told the council that 27 states had requested for a $10 billion concessionary loan based on the “collaterisation” of the Excess Crude Account.

Ayade quoted Vice President Yemi Osinbajo who chaired the NEC meeting as saying that processes were being undertaken to reimburse states that had followed the right procedure and due process in incurring expenses on federal road projects.

Taraba State Governor Darius Dickson Ishaku said the vice president confirmed that the Federal Government was working on how to assist flood-affected states