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The Nigerian National Petroleum Corporation, NNPC, has reacted to the report linking President Muhammadu Buhari and his Chief of Staff, Abba Kyari, to the N50 billion that was kept away from the Treasury Single Account, TSA.
In a statement signed by the Group Managing Director, GMD, of the NNPC, Dr. Maikanti Baru, which was made available to Post-Nigeria, on Friday afternoon, the NNPC set the record straight.
However, it is worthy to note that while the NNPC claimed that Mr. Kyari did not single-handedly approve the said amount, it did not deny in totality his role in the whole controversial transaction.


The statement reads:
The Nigerian National Petroleum Corporation (NNPC), has disclaimed the allegation that its Group Managing Director, Dr. Maikanti Baru, had ever stated in any fora that the Chief of Staff to the President, Mallam Abba Kyari, “directed the Corporation to keep the sum of N50 billion away from the Treasury Single Account (TSA).”
NNPC wishes to state that the allegation is baseless, and is a clear misrepresentation of the truth.
By virtue of the operations of the NNPC, the Corporation had made series of compelling cases to the President Muhammadu Buhari’s led 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 Buhari’s 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.”


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