APC Accuses NNPC Officials Of Embezzlement Of $1.2billion NLNG Fund


The All Progressives Congress (APC) has alleged that the $1.2 billion, which the Nigerian National Petroleum Corporation (NNPC) moved from commercial banks to the Central Bank of Nigeria (CBN) is part of the missing Nigeria Liquefied Natural Gas (NLNG) monies.


In a statement APC National Publicity Secretary, Alhaji Lai Mohammed, the party renewed its call on the Federal Government to probe the whereabouts of the dividends paid to the NNPC by the NLNG, as well as the taxes paid to the Federal Inland Revenue Service (FIRS) Federation Account prior to the latest payment in June 2015.

He said,

“Whereas NLNG’s dividends are paid to NNPC’s account with JP Morgan, from where they are supposed to be paid into the Federation Account in accordance with the law, some unscrupulous officials of the corporation have apparently been moving such funds to local banks so they can collect huge commissions on them.

Now that the cat has been let out of the bag, they have started moving the funds from the banks to the CBN. We believe what we are seeing now is just a tip of the iceberg, hence the need for the authorities to call the NNPC officials to give account of the paid NLNG dividends to date.

The top officials of the NNPC and others who met on Monday and decided to withdraw the $1.2 billion from the corporation’s account to the CBN must be asked a number of questions, including their motive for the decision and the whereabouts of the commissions paid on such funds.

It is not by accident that until the advent of the Buhari administration that has decided to enthrone transparency in governance, no one has heard anything about NLNG dividends and taxes, while the funds therefrom have not been shared as they should have been. This is not right.

A situation in which funds meant for all Nigerians are eaten up by a few will no longer be tolerated. Those who are opposed to the efforts by the Buhari administration to clear the rot left behind by the past government and restore transparency to the system are enemies of Nigeria.

APC insisted that any delay in calling the officials to account for the dividends may be too late as it would give them enough time to cover their tracks.
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