A House of Representatives committee report yesterday revealed that the Nigerian National Petroleum Corporation (NNPC), Nigerian Ports Authority (NPA) and the Nigerian Civil Aviation Authority (NCAA) and 60 other federal agencies had withheld trillions of naira in revenues in four years, much more than previously discovered.
The agencies generated a total of N12.268 trillion between 2009 and 2012 but only remitted N255 billion, according to the report prepared by the House committee on Finance and approved at a plenary yesterday.
NEITI audit report published last week said the NNPC alone withheld N1.2tr between 2009 and 2011. But NNPC denied the claim. The corporation had three years previously (2006 to 2009) diverted N450 bn which it had started repaying now, NEITI said.
But the House Finance Committee report said the NNPC failed to remit N6.132 trillion revenues to the treasury. "From 2009-2011 the NNPC group including all its subsidiaries have generated internal revenues amounting to N6.132 trillion excluding its statutory function as marketer of Nigeria's crude oil and. Gas and no remittance has been made to the treasury," the report said.
The committee led by Rep. Abdulmumin Jibrin (PDP, Kano) submitted the report after three months of investigation of allegations of non-remittance of Internally Generated Revenue (IGR) by money generating agencies.
The report also revealed that in 2009, 60 agencies excluding the NNPC generated the sum of N3.06 trillion but remitted only N46.8 billion representing 1.53 percent of the total sum.
Also, in 2010 according to the report, they generated N3.07 trillion while remittance was N54.1 billion or 1.76 percent.
In 2011 N3.17 trillion was realised but remittance was N73.8 billion or 2.33 percent," the report said.
Consequently, the House gave the Minister of Finance, Dr Ngozi Okonjo-Iweala 90 days "to mop up all funds derived from internally generated revenues of government owned agencies and corporations, alleged to have been kept in secret bank accounts and be paid into the Consolidated Revenue Fund of the federal government."
The House directed the Fiscal Responsibility Commission to sanction any revenue generating agency that fails to submit its audited annual accounts as and when due. It also asked the Accountant General of the Federation to submit to the Finance Committee, detailed monthly remittances of the government's revenues.
NNPC did not respond when asked for comment.