The Nigerian National Petroleum Company Limited (NNPC) has revealed that it has remitted $2.7 billion in six months, from January to June this year, into its accounts with the Central Bank of Nigeria (CBN).

This was contained in a document on NNPC remittances to CBN seen in Abuja on Sunday.

The document stated that the funds remitted included $645 million for dividend paid by the Nigerian Liquified Natural Gas Company Ltd, and $1.786 billion from the NNPC operational activities.

Further details showed that NNPC remitted $18.77 million  in January 2022, $194. 56 million in February 2022 and $373. 233 million in March 2022.

Other NNPC remittances were $247.884 million in April 2022, $591.565 million in May 2022  and $880.906 million  (June 2022).

This came after claims that zero remittance by the NNPC was responsible for the severe scarcity of the dollar, leading to the sharp depreciation of the naira last month.

It would be noted that the naira depreciated by  N3.95 to N429 per dollar at the end of July in the  Investor and Exporters (I&E) window from N425 per dollar at the end of June.

Similarly, the naira depreciated by  N95  to N710  in the parallel market at the end of July from  N615 per dollar at the end of June.

In a report titled, “The forex question in Nigeria: Fact sheet,” the apex bank reportedly stated that there had been “zero-dollar remittance to the country’s foreign reserve by the NNPC.”

But the document seen in Abuja on Sunday claimed otherwise, as it stated that NNPC remitted $2.7bn to CBN in the first six months of this year. The CBN has, however, refused to speak on the matter when contacted.

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