Connect with us

National & Local News Today - Latest News in Nigeria Today

NNPC Denies Alleged Mismanagement Of N20bn



NNPC Denies Alleged Mismanagement Of N20bn

The NNPC slammed allegations that it paid the sum of N20 billion to ghost consultants.


The management of the Nigerian National Petroleum Company Limited (NNPC) said on Monday, that it read a report by an online platform with extreme dismay alleging that it paid N20 billion to ghost consultants and was involved in the theft of multi-billion naira in tax that was owed to the Ogun state government and that it paid N20 billion to ghost consultants.

According to a statement by its Chief Corporate Communications Officer, Garba Muhammad, the NNPC does not employ or work with ghost consultants since it is a responsible business entity.

Also Read: Soyinka Berates CBN Gov Over Naira Crisis

“At NNPC Ltd, the process of engaging consultants whenever the need arises is clear and verifiable and follow global best practices.

“It is therefore unfortunate that for whatever reason, the said online platform would make such a grievous allegation, mindless of the consequences of such actions. The claim of a missing N20bn is absolutely false and baseless,” it added.

The NNPC, therefore demanded that the online platform retracts the said publication immediately; noting that going forward, the platform should verify its facts before going to press.


“The second component of the said unfortunate report is related to Ogun State Government claiming a back duty tax liability of about N18 billion, against an NNPC subsidiary, the Petroleum Products Marketing Company (PPMC) Ltd.

“For clarity, PPMC had objected and challenged the claim through its tax consultant. Consequently, the Ogun State Government took the matter to court which is not unusual in business circles,” it stressed.

Muhammad asserted that the case is currently before the court and that NNPC Ltd will support its position by providing relevant evidence.

The NNPC spokesman concluded by advising the aforementioned online publication to consider the effects of its decisions before making them.

“For a matter that is already in court, as admitted by the online publication, it is sad that any medium can arrive at such subjudice conclusions as shown by the actions of the online medium,” it maintained.