The Nigerian National Petroleum Corporation said it would continue to engage the National Assembly in dialogue over the directive to remit $218 million into the Federation Account.
The Group Managing Director of the NNPC, Andrew Yakubu, said this in Uyo, Akwa Ibom State on Friday while answering questions from energy correspondents at a media workshop organised by the corporation.
The Senate had on Thursday asked the NNPC to remit $218,069 milliom to the Federation Account.
The amount is said to be part of unremitted $49.8 billion from oil sale by NNPC from the removal of fuel subsidy as alleged by Malam Sanusi Lamido Sanusi, a former Governor of the Central Bank of Nigeria.
The Senate ordered the refund “being the share of the federation from third party financing agreement”.
Yakubu stressed that NNPC would continue to explain to the Senate that the said funds were spent on operations of the corporation to avert fuel crisis in the country.
According to him, the corporation engaged in business ventures that necessitated the spending.
He said: “We will collect the report, we will look at it again and we will continue to explain.
“It is left for them to judge.
“I am an accused, I cannot be a judge in my case.
“Should I be punished for doing the right thing?
“We will continue to talk, to see, maybe, by and large, they will have a change of mind.”
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