Falana writes Edun, demands NNPCL’s remittance of $34.2bn to Federation Account

The Senior Advocate of Nigeria, Femi Falana, has demanded the remittance of $34.2 billion to the Federation Account by the Nigerian National Petroleum Corporation Limited (NNPCL).

In a letter dated October 24, titled: “Request To Recover $34.2bn Being Dividend Collected By NNPCL On Behalf Of The Federation,” and addressed to the Minister of Finance and the Coordinating Minister of Economy, Wale Edun, the rights activist mentioned instances where funds were remitted to NNPCL by the Nigeria Liquefied Natural Gas (NLNG) Limited.

The letter was received by the minister’s office on Wednesday.

READ ALSO: NNPCL recovering full cost on imported products, no subsidy – Kyari

Falana added that the $34.2 billion was received on behalf of the Federal Government by NNPCL from 2004 to 2021.

He also threatened to initiate legal proceedings at the Federal High Court for the immediate recovery of the money from the NNPCL if the minister fails to order its remittance to the federation account.

“We shall also pray the Court to direct the NLNG to remit dividends earned by Nigeria to the Federation Account forthwith,” he stated.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now