The Nigerian National Petroleum Company Limited has denied owing international oil traders $6.8 billion but confirmed some of its transactions were on credit.
NNPC Chief Corporate Communications Officer, Olufemi Soneye also refuted claims that the company had not remitted funds into the Federation Account since January.
However, Soneye acknowledged that some transactions were conducted on credit but noted that it was normal to have outstanding amounts at certain times in the petroleum industry.
He also maintained that the NNPC Ltd, and all its subsidiaries as the largest contributor to the tax revenue, regularly remit their taxes to the Federal Inland Revenue Service.
NNPC Ltd. also reiterated its commitment to transparency and accountability, stressing that the media is always welcome to inquire about its operations before disseminating reports.
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