The National Economic Council (NEC) Thursday in Abuja threw its weight behind the Federation Account Allocation Committee’s (FAAC) decision to reject the remittance by the Nigeria National Petroleum Corporation (NNPC) into the Federation Account in May.
The Wednesday meeting of the committee had ended in a stalemate as the NNPC failed to show up after failing to respond to the request of the committee to be more forthcoming with its operational accounts and remittances.
The corporation, in a statement Thursday, had also defended itself over alleged shadowy accounting, contending that the obstinacy of the nation’s 36 state governors was responsible for the prevailing stalemate. Read more