There are no hidden accounts - NNPC

The Nigerian National Corporation (NNPC) on Thursday, October 5, said it does not operate any hidden accounts as widely reported in the media. The management of NNPC said the allegation that the corporation operated various hidden accounts is misleading. The group general manager, group public affairs division of the corporation, Ndu Ughamadu, in a statement said the NNPC had taken steps to inform the Presidency, the office of the accountant general of the federation and the Central Bank of Nigeria of the existence of the said account.
Ughamadu said the information was made available before the creation of the federal government asset recovery account. He said it would also be impossible to move funds from the account as claimed. Ughamadu said a consultant was appointed by the federal government to audit and investigate hidden remittance on the said account.
 He also added that the consultant was further instructed to withdraw the case against some commercial entities at the Federal High Court in Lagos. Ughamadu said contrary tp reports that NNPC collided with some back to prevent the remittance of funds into the Treasury Single Accounts (TSA), the CBN in line with the president's directive is supervising all funds remittance by the corporation.
He said NNPC is an entity saddled with the responsibility to the government and its peoples and as such committed to transparency and an unwavering accountability. Kachikwu in his letter raised various issues of insubordination he received from the group managing director of the NNPC, Maikanti Baru. He also said the actions of Baru could derail the recorded strides in Nigeria's petroleum industry.