NUPRC REFUTES REPORT ALLEGING NON REMITTANCE OF N151BN INTO FEDERATION ACCOUNT

The NUPRC in a statement issued on Monday, in Abuja, signed by its Head of Public Affairs and Corporate Communications, Mrs. Olaide Shonola, stated that the media report clearly showed a lack of understanding of the composition and responsibility of the commission.

The NUPRC argued that the audit report under reference was that of 2020, explaining that the commission was a creation of the Petroleum Industry Act (PIA) of 2021 and was inaugurated in October 2021.

The upstream regulator added that it is a regulatory body and not directly involved in operational activities.

The NUPRC maintained that it therefore smacked of professional sloppiness to link it by whatever definition to a report of 2020, adding that it was also mischievous to claim that the commission did not remit funds it never received.