The Nigerian National Petroleum Corporation (NNPC) has denied the report that it was aware that some banks did not remit funds into the treasury single accounts (TSA) as directed by the Federal Government.

The agency said reports that it colluded with the banks are false.

In a statement by Ndu Ughamadu, Group General Manager, Group Public Affairs Division, the corporation described the allegation as “misleading”.

“It would be totally out of place to move the funds to the federal government asset recovery account as reported,” the statement read.

“It is unreasonable and sheer waste of funds to pay any agent five percent, whistleblowing fee for the phantom recovery of genuine NNPC funds which had been disclosed to the presidency, CBN and other relevant stakeholders.

“Based on this superior argument, the consultant appointed by government to investigate the alleged hidden remittances was instructed to withdraw the pending court case against some commercial entities at the federal high court, Lagos.”

Azeez