The Nigerian National Petroleum Company Limited (NNPCL) has debunked a report claiming that it owes international oil traders 6.8 billion dollars.

Responding to allegations against the company in a statement, Chief Corporate Communications Officer, OLUFEMI SONEYE, also refuted claims that the NNPCL has not remitted funds into the federation account since January.

SONEYE, however, acknowledged that it is normal to owe at one point or the other since the oil trading business, transactions are carried out on credit.

On the issue of quality/quantity of imported petroleum products, he said the NNPCL has no role whatsoever as it is not a regulator.

According to him, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, which is the relevant regulatory agency in charge of such issues, is an independent body and does not report to the NNPCL.