NNPC up to date in cash remittance -NEITI  
The NNPC is up to date in remitting crude oil proceeds into the federation account, according to the final NEITI report.
The report, a copy of which was given to the News Agency of Nigeria (NAN) yesterday in Abuja, said that discrepancies in payments had been solved.
``NNPC's domestic crude proceeds had been fully reconciled,'' the report said.
According to the report, the auditors focussed on signatures as well as reserves, additional bonuses while reconciling the NNPC accounts for the five-year period between 1999 and 2004.
``The payment into the escrow accountas well as amounts reported by the DPR were fully confirmed without any ambiguity,'' the report said.
The report advised government to reform the licensing system as well as to refresh crude oil lifters and products suppliers for better accounting.
It recommended that contracting process through the NNPC's investment arm ``NAPIMS'' should be reformed in the interest of the nation.
The report rated the auditing of the nation's EITI companies as the most comprehensive ever conducted.
The report also confirmed that on the whole the activities of the oil sector was more open and transparent in the five years period audited compared to the previous years.
In a chat with NAN, NNPC Group Managing
Director Funsho Kupolokun said that the corporation was conducting its activities in a transparent manner for the common good.
``We are only being misunderstood, butthat will not deter us, we will continue to manage government investment both inthe upstream and downstream in the interest of the economy,'' Kupolokun said.
According to him, the NNPC is ready to work with all stakeholders in order to resolve any differences in respect of payments into the federation account.