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TSA: NNPC Denies Operating Hidden Accounts in Commercial Banks




The Nigerian National Petroleum Corporation (NNPC), yesterday denied reports that it colluded with some commercial banks in Nigeria to prevent the remit- tance of $793.2 million into the federal government’s Treasury Single Accounts, (TSA), saying such claims were untrue and misleading.
This is coming on the heels of the official statements by Skye Bank Plc and the United Bank for Africa Plc (UBA) refuting allegations of contravening government’s TSA policy as alleged by a Federal High Court in Lagos on Thursday.
The NNPC in a statement from its Group General Manager, Group Public Affairs Division, Ndu Ughamadu, in Abuja stated that it had earlier taken steps to inform the Presidency, Office of the Accountant-General of the Federation (AGF), as well as the Central Bank of Nigeria (CBN) of the existence of the said accounts prior to the creation of the Asset Recovery Account by the government.

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