KPMG report indicts NNPC, others of under-remitting into Fed account

The National Economic Council (NEC) presided over on Thursday by Vice President Yemi Osinbajo has said the final report on the forensic audit of revenue accruals by revenue generating agencies confirmed massive under-remittances to the Federation Account to the tune of N8.1 trillion.

Juliana Taiwo-Obalonye, Abuja

The National Economic Council (NEC) presided over on Thursday by Vice President Yemi Osinbajo has said the final report on the forensic audit of revenue accruals by revenue generating agencies confirmed massive under-remittances to the Federation Account to the tune of N8.1 trillion.

Governor Ibrahim Dankwambo of Gombe State, while briefing State House correspondents at the end of meeting, said various Revenue Generating Agencies (RGAs) shortchanged the government of N526 billion and $21 billion between 2010 to 2015.

Dankwambo, who chaired the NEC ad hoc committee on remittances, said the infractions were identified by KPMG who were contracted by the NEC to carry out a forensic audit of revenue remittances to the Federation Accounts.

He said his committee briefed NEC on the findings and it was resolved that the audit period be extended up to June 2017.

The Gombe governor said the financial audit consultancy firm covered 18 revenue generating agencies, who were found culpable of under remittances.

The agencies audited are: the Nigerian National Petroleum Corporation, NNPC; Federal Inland Revenue Service (FIRS); Nigeria Customs Service (NCS) and Nigerian Ports Authority (NPA).

Others include Nigerian Maritime Administration and Safety Agency (NIMASA); Nigerian Communications Commission (NCC); Central Bank of Nigeria (CBN); Department of Petroleum Resources (DPR); Nigerian Petroleum Development Company (NPDC), and several others.

Dankwambo said a subcommittee will be set up to look at the details of the infringements. Those that are criminal in nature will be handed over to office of the Attorney General of the Federation(AGF) for action.

Damkwambo said, “KPMG presented the report of the technical audit of RGAs concluding that a total sum of N526 billion and USD$21 billion was under-paid to the Federation Account.

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