NNPC GMD, Maikanti Baru, dismisses allegation linking Abba Kyari to the N50bn funds kept away from the TSA.

NNPC faults an online publication linking Abba Kyari to the sum of N50bn kept away from the Treasury Single Account (TSA) – The Corporation describes that allegation as a misrepresentation the truth The group managing director of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has dismissed allegations that he ever stated that the chief of staff to the president, Mallam Abba Kyari, directed the corporation to keep the sum of N50billion away from the Treasury Single Account (TSA).

Baru’s denial was contained in a statement by the NNPC’s spokesperson, Ndu Ughamadu, in a statement on Friday, December 15. The corporation described that allegation against the GMD as baseless and a clear misrepresentation of the truth.

The statement read in part: “An online publication made the allegation recently. “By virtue of the operations of the NNPC, the Corporation had made series of compelling cases to the Presidency and the Central Bank of Nigeria to allow certain categories of accounts operate outside the TSA, as they contain co-mingled funds governed by detailed agreements with local and international implications.

“NNPC equally wishes to state that while these necessary approvals sought by the NNPC were graciously given by the Presidency, the Chief of Staff merely conveyed the notice of these approvals to the Corporation. “In the same vein, members of the relevant committee of the National Assembly have requested for copies of such approvals, which were duly provided by the Corporation. “To claim that the Chief of Staff single-handedly approved these exemptions was not only unfair, but is a complete misrepresentation of facts to mislead the general public.”

Meanwhile, following the purported exemption of some special Nigerian National Petroleum Corporation accounts from the Treasury Single Account by President Buhari, the House of Representatives, on Tuesday, December 13 raised questions over the act. Punch reports that accounts, with funds worth N50bn, are still being kept by commercial banks in breach of the TSA policy. It also reported that an ad hoc committee of the House, chaired by Abubakar Danburam-Nuhu, found out that the NNPC directed some commercial banks to keep the accounts outside the TSA.

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