Emir of Kano, Alhaji Muhammed Sanusi has restated that that NNPC failed to remit billions of dollars into the federation account.
The former CBN Governor reiterated maintained that what he said before being suspended as the apex bank governor still stands as despite efforts by the government to sweep the allegations under the carpet.

“Contrary to the claims of Petroleum Minister Diezani Alison-Madueke, the audit report does not exonerate the NNPC. It establishes that the gap between the company’s oil revenues between January 2012 and July 2013 and cash remitted to the government for the same period was $18.5bn. And it goes into detail about the NNPC’s account of how it used that money, which raises serious questions about the legality of the state oil company’s conduct,” Sanusi, who is now the Emir of Kano, stated.

Continuing, the former CBN Governor said, “The auditors say a significant part of the unremitted funds is supposed to have gone towards a kerosene subsidy that had been stopped two and a half years earlier by the late President UmaruYar’Adua. His decree never appeared in the official gazette, leading some to question whether it ever had legal force.

“Evidence disclosed in the report suggests this is a sideshow. The executive secretary of the agency charged with administering subsidies confirmed that, acting on Yar’Adua’s orders, it had ceased granting subsidies on kerosene. There was no appropriation for such a subsidy in the 2012 or 2013 budgets.

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