Tinubu Lacks Powers to Cancel NNPC Debts Owed to Federation Account — ADC

​The African Democratic Congress has raised strong objections to President Bola Tinubu’s approval of the cancellation of what it described as legacy debts owed by the Nigerian National Petroleum Company Limited (NNPC Ltd) to the Federation Account, warning that the move undermines constitutional provisions on revenue sharing.

According to the party, official documents presented to the Federation Account Allocation Committee (FAAC) showed that about $1.42 billion and N5.57 trillion in legacy debts were written off following a…

https://spenohub.wixsite.com/speno/post/tinubu-lacks-powers-to-cancel-nnpc-debts-owed-to-federation-account-adc

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