The House Committee on Finance has insisted that the Nigerian National Petroleum Corporation, (NNPC) has to pay N142.7 billion into the Consolidated Revenue Fund (CRF) of the federal government, being calculation of surplus from its Internally Generated Revenue (IGR) since 2009, adding that it was nothing personal.
Briefing newsmen at the weekend, the chairman of the committee, Abdulmumin Jubrin, also disclosed that the committee had concluded preliminary work on a bill to repeal and reenact the Fiscal Responsibility Act (FRA), to remove provision sthat allow some revenue generating agencies to spend as they earn.
Recall that the committee last week issued a directive to the NNPC to remit N42.7 billion to the CRF as part of its IGR while summoning heads of the corporation and that of its subsidiaries to appear today to deliberate on the subject.
But the NNPC on Tuesday denied owing the federal government while accusing the committee of, among other things, hastily making conclusions while a committee is working on the matter and nursing a hidden agenda.
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