Reps indict PPPRA over N2bn unremitted funds

The Petroleum Product Pricing Regulatory Agency, PPPRA, has come under severe bashing as it was uncovered that the agency has defaulted to the tune of several billions unremitted to the federation account.

The House of Representatives committee on Finance investigating unremitted funds by ministries, departments and agencies of government (MDAs), made the discovery on Monday in Abuja, lamenting how PPPRA has short-changed the government and people of the country.

For instance the Rep. Abiodun Faleke led committee discovered at the resumed session on Monday that the agency had not remitted a kobo since 2014 till date.

It was learnt that in 2014 alone, PPPRA was to pay as revenue the sum of N501 million to the consolidated revenue account, which it declined. The agency also defaulted in subsequent years, 2015 till date which is the period under review.

Accordingly the committee argued that even if the N501 million was a constant as revenue from PPPRA within the period under consideration, then it would have short-changed government to the tune of over N2 billion.

While indicting the agency which is to reappear before the committee, on February 24 with relevant documents, like statement of account, outstanding indebtedness, annual budgets, from 2011 till date and copies of all reconciliation with NNPC as well as all the contracts awarded and names of contracts and details, the Chairman of the committee, Hon Faleke accused the agency of hiding facts.

He said: “If every agency keeps N501 million every year, what is left, ” he demanded.

He also threatened to make disciplinary recommendation against the PPPRA’s Director of Finance, Peter Joshua, who represented the Managing Director and Chief Executive Officer, for allegedly concealing facts and figures required by the committee in its investigation.

He said Joshua had been in the Finance unit of the agency since 2005 and was in a position to give actual facts and figures instead of hiding them.

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But in his submission, the Finance Director blamed the current situation to the inability to reconcile figures with the NNPC.

He said that the NNPC was still indebted to it.

Meanwhile, the National Ear Centre was also grilled by the committees and directed to reappear with relevant operating receipts for treatments, surgeries undertaken, registrations, medical reports in order to reconcile remittances it made to government as IGR

The committee warned that every revenue due to government must be recovered and paid into the tertiary so that there will be funds to implement the 2020 budget outside oil money