[TOP STORY] Sources: Tinubu sets up committee to resolve NNPC, FAAC row over N2.1trn remittances | TheCable
Limited and the Federation Account Allocation Committee , TheCable understands.
“I can comfortably tell you that Mr. President has approved the memo from NNPC Limited to set up a committee to reconcile the crisis between NNPC Limited and FAAC over the failure to remit money into the federation account,” a source said. FAAC had accused the NNPC Limited of an inability to pay over N2.1 trillion to the federation account from crude sales, royalties, and taxes.over N4.2 trillion in subsidy payment, power, debt as well as other sundry charges.The committee, set to begin sitting on Friday at the ministry of finance, is tasked with resolving the concerns surrounding the debt owed by the federal government to NNPC.
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