The Nigerian National Petroleum Corpora- tion (NNPC) gener- ated about N8.1 trillion but remitted N4.3 trillion to the federation account between 2012 and May 2015.
About N3.8 trillion was withheld and spent by the NNPC within the period in review.
Also, between the period and November 2014, a total of $2.1 billion was drawn from the excess crude account without the approval of the National Economic Council (NEC).
This was disclosed by the Edo State governor, Adams Oshiomole, while briefing journalists after the first NEC meeting of the new admin- istration.
Oshiomole, who briefed alongside the governors of Kaduna State, Nasir el-Rufai, and Zamfara governor, Ab- dulazeez Yari, said following the discovery, the NEC had set up a four-man commit- tee to comb the books of the NNPC as regards remit- tances and the operations of the excess crude account as well the federation account.
It could be recalled that President Muhammdu Bu- hari had last week Friday dissolved the board of the NNPC to pave way for full scale investigations, follow- ing tip-offs regarding the issue of the missing funds.
ELIZABETH ARCHIBONG
