T he Permanent Secretary , Federal
Ministry of Finance , Mahmoud Isa-
Dutse, confirmed at a media briefing
shortly after the Federation Accounts Allocation
Committee meeting in Abuja on Thursday that
the Nigerian National Petroleum
Corporation has finally offset its indebtedness of
N 450 bn to the Federation Account.
However, the N450 bn indebtedness has been a
subject of controversy since 2010 following
discoveries that the corporation failed to remit
part of the revenue it generated for the country
to the Federation Account.
The corporation had failed to remit
the money despite persistent pressure mounted
by the then Chairman of FAAC and former
Minister of State for Finance , Mr. Remi Babalola
.
Speaking after this month ’ s FAAC
meeting held at the headquarters of the Ministry
of Finance in Abuja,
Dutse said , “

ok

Good