The Nigerian National Petroleum Corporation and the Office of the Auditor-General for the Federation on Tuesday disagreed over the non-remittance of N4.076trn into the Federation Account.
The Senate Public Accounts Committee, relying on a 2016 report of the Auditor-General, had queried NNPC over the fund.
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The Auditor-General, in the report, had said that a cumulative total of N4.076trn operational proceeds made between 2010 and 2015 was unremitted to the Federation Account by NNPC as at 31st December 2016.
But the NNPC, in a written response as indicated in the report, said the money was arrived at without taking cognizance of the subsidy and pipeline repairs and management associated with domestic crude oil transaction.
At the hearing of the Senate Public Accounts Committee yesterday, NNPC Chief Finance Officer, Umar Ajiya, reiterated the claim, saying that it was impossible to hide such magnitude of money anywhere.
He said the N4trn was expended in pipeline repairs, domestic fuel supplies which were heavily subsidized, security and management matters.
But Olutoye Agesin, Director of Public Accounts in the OAGF, said the NNPC did not provide breakdown of how the money spent while responding to the query.
The vice chairman of the committee, Senator Ibrahim Hassan Hadejia, directed the Chief Finance Officer of NNPC to furnish the committee with the required details within a week, upon which the query would be vacated or sustained.
