The Federation Account Allocation Committee (FAAC) meeting was called off last Thursday over the non-remittance of about N1.78 trillion into the government’s coffers by the Nigerian National Petroleum Corporation (NNPC), The Nationlearnt yesterday.
About N1.32trillion of the outstanding was unpaid by the NNPC during former President Goodluck Jonathan’s administration.
The whereabouts of the cash remains unknown.
Also, from January 2016 to September 2017, NNPC has about N460. 649bilion yet to be remitted into the Federation Account.