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FG denies NNPC is bankrupt

The Minister of Information and Communications, Dora Akunyili has denied that the Nigerian National Petroleum Corporation (NNPC) is bankrupt. ``NNPC, from the auditor’s account, is a growing concern and does not have solvency issue as a corporation. Therefore categorically NNPC is not insolvent. ``Given the nature of NNPC, there are regular transactions between the Federal Government and NNPC and as a result, there are always outstanding balances between the corporation and the Federal Government ...
Read the rest of the story on Businessday Nigeria

Added July 14, 2010
from Businessday Nigeria