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Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy. THE Nigeria National Petroleum Corporation (NNPC) said it transferred $1.28 billion to Joint Venture Cash call in February, 2021, The Nation learnt yesterday. The document entitled: “February 2021, Financial and Operations Report,”added that the $1.28 billion was paid as first line charge. It noted that in the period under review, the corporation also transferred $0.94billion into the Federation Account. The report explained that the total crude oil and gas receipt for the month was $2.22billion from which the transfers were made to JV cash call and Federation Account.

Kennie obateruFederation account allocation committeePetroleum productJv cost recovery federationPetroleum product supply distributionNigeria national petroleum corporationNaira payments to federationGroup public affairs divisionOil gasNational petroleum corporationJoint venture cashOperations reportFederation accountGeneral managerFederal governmentNaira payments