Lawmakers probe alleged N2 trillion non-remittance by NNPCL

Lawmakers probe alleged N2 trillion non-remittance by NNPCL

The House of Representatives has expressed concern over the Nigerian National Petroleum Company Limited (NNPCL) allegedly withholding public revenue amounting to about N2 trillion.

In a motion raised by Uduak Odudoh, the House accused the NNPCL of disrespecting the collective intelligence of Nigerians.

According to the constitution and the Allocation of Revenue Act, revenues collected by the government should be paid into the federation account for the benefit of the entire federation and its three tiers of government.

The Federation Account Allocation Committee (FAAC) had previously accused the NNPCL of withholding over N2 trillion from crude sales, royalties, and taxes.

The House has called for an investigation into the matter by its committee on finance.