The Nigerian National Petroleum Company (NNPC) Limited remitted a total of N2.7 billion into its accounts with the Central Bank of Nigeria (CBN) from January to June this year.
This is according to a document on NNPC remittances to CBN seen in Abuja on Sunday.
Contradicting the claims of CBN that the weakening value of the naira was caused by the non-remittance of funds into Nigeria’s foreign reverses by NNPC, the document stated that out of the $2.7bn the oil firm remitted into its CBN accounts, $645m was for dividend paid by the Nigerian Liquefied Natural Gas company Limited.
It added that $1.786bn was from the operational activities of the national oil company, which recently transited into a limited liability company.
In its reaction to the crash in the value of naira against the United States dollar, the CBN had said the non-remittance of dollars by NNPC precipitated the forex crisis.
In a report entitled, “The forex question in Nigeria: Fact sheet,” the apex bank reportedly stated that there had been “zero-dollar remittance to the country’s foreign reserve by the NNPC.”
However, the document seen in Abuja on Sunday claimed otherwise, as it stated that NNPC remitted $2.7bn to CBN in the first six months of this year.
It said $645m was for dividend paid by the NLNG, while $1.786bn was from NNPC’s operations during the six-month period.
A breakdown of NNPC remittances showed that funds into the oil firm’s accounts in CBN include $18,770,418.97 in January; $194, 563, 276.49 in February; and $373, 232,875.20 in March.
Others were $247,884,295.52 remitted in April 2022: $591,565,425.41 in May; and $880,906,761.81 in June 2022.