The House of Representatives is to investigate the non–remittance of due taxes by the Nigerian National Petroleum Company Limited (NNPCL) into the Federation account and the accusation by the Federation Account Allocation Committee.
Adopting a motion by Hon. Uduak A. Odudoh, the House asked its Committee on Finance to carry out a comprehensive investigation into the allegations as the Revenue allocation committee had alleged that such refusal led to loss of over N2 trillion in revenue.
Odudoh said Section 162(1) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) provides for “The Federation Account” in which all revenues collected by the Government of the Federation except such exempted therein are paid.
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