NNPC denies saying Abba Kyari ordered N50bn kept out of TSA

The Nigeria National Petroleum Corporation (NNPC) has denied reports credited to its Group Managing Director, Mr Maikanti Baru, linking Abba Kyari to N50 billion kept away from Treasury Single Account (TSA).

NNPC said on Friday that Baru never said that the Chief of Staff to the President directed the Corporation to keep the sum of N50 billion away from TSA.
A statement on Friday by the Mr. Ndu Ughamadu, Group General Manager Group Public Affairs Division, NNPC, Abuja, said that the allegation was baseless and “ a clear misrepresentation of the truth’’. Ughamadu noted that an online publication made the allegation recently.

“By virtue of the operations of the NNPC, the Corporation had made series of compelling cases to the Presidency and the Central Bank of Nigeria to allow certain categories of accounts operate outside the TSA, as they contain co-mingled funds governed by detailed agreements with local and international implications. NNPC equally wishes to state that while these necessary approvals sought by the NNPC were graciously given by the Presidency, the Chief of Staff merely conveyed the notice of these approvals to the Corporation.

“In the same vein, members of the relevant committee of the National Assembly have requested for copies of such approvals, which were duly provided by the Corporation.
“To claim that the Chief of Staff single-handedly approved these exemptions was not only unfair, but is a complete misrepresentation of facts to mislead the general public.’’