Politics
‘Our Claims Are Verifiable’ – NNPCL Denies Involvement In ₦3.3tr Subsidy Fraud
![](https://citynewsng.com/wp-content/uploads/2024/01/NNPC-LOGO.jpg)
The Nigerian National Petroleum Company Limited (NNPC Ltd) says media reports that it inflated petrol subsidy claims by ₦3.3 trillion naira are untrue.
The position of the NNPCL was made known in a statement on Monday by its chief corporate communications officer, Olufemi Soneye.
He argued that all records of subsidy transactions and claims by the NNPCL in dealings with the federal government are transparent and verifiable. He also added that the businesses of the company are guided by international best practices.
CityNews reports the NNPCL spokesperson made the submission in reaction to claims that a forensic investigation revealed a notable inconsistency in the fuel subsidy claims filed by the company.
The audit was said to have uncovered that NNPCL had inflated its fuel subsidy claims by a staggering ₦3.3 trillion.
However, Soneye said NNPC Ltd is neither aware of any audit of its subsidy claims nor probe and, therefore, designates the claims as ridiculous and products of the reporters and their respective media houses’ imagination.
The statement reads in part: “The Nigerian National Petroleum Company Limited (NNPC Ltd) notes with dismay a report in a section of the media alleging that it inflated subsidy claims by N3.3trillion, and wishes to state that:
“NNPC Ltd conducts its businesses accountably and transparently in keeping with international best practices and has, at no time, inflated its subsidy claims with the federal government.”
It added: “All previous subsidy claims by the Company are verifiable as relevant records and documents have been sent to relevant authorities and agencies.
“NNPC Ltd is neither aware of any audit of its subsidy claims nor probe ensuing therefrom and wishes to state categorically that both ridiculous claims are products of the febrile imagination of the reporters and their respective media houses.
“NNPC Ltd will resist any attempt to drag the Company into the apparent politics of fuel subsidy as it currently operates on a commercial basis and the express provisions of the Petroleum Industry Act (PIA).
“It is on record that in line with its Transparency, Accountability & Performance Excellence (TAPE) mantra, NNPC Ltd. has, on several occasions, independently invited external auditors to review its books.
“NNPC Ltd calls on media practitioners and media houses to exercise restraint and verify information before publication in keeping with the ethics of the noble profession of journalism to avoid misleading the public.”
![](https://citynewsng.com/wp-content/uploads/2022/04/citynews-logo1-1-300x85-1.jpg)
- News20 hours ago
Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 27th June 2024
- Top Stories20 hours ago
Killer Of Gokada Founder, Fahim Saleh, Convicted In The US
- Politics20 hours ago
Bosun Tijani reacts to alleged purchase of his NIN online for N100
- Top Stories20 hours ago
Tinubu Has Approves Upgrade Of Ibadan Airport To International Status – Makinde
- News20 hours ago
Nigeria’s Treasury Bills debt surges to N10.4 trillion, largest balance in Nigerian history
- News20 hours ago
Breaking: Ex-Konga CEO, Nick Imudia Reportedly Commits Suicide
- Top Stories14 hours ago
Musk’s SpaceX hired to destroy ISS space station
- Entertainment13 hours ago
“This centre is proscribed by the Archbishop of Lagos Archdiocese” Catholic Priests warn Catholics against attending Zion Ministry; members hit back