NLNG DIVIDENDS: Senate demands schedule of withdrawals from CBN, NNPC

NLNG DIVIDENDS: Senate demands schedule of withdrawals from CBN, NNPC

The Nigerian Senate Committee on Gas has demanded the schedule of 45 withdrawals made from the accounts of the Nigeria Liquefied Natural Gas (NLNG) from 1999 till date from the Central Bank of Nigeria (CBN) and the Nigerian National Petroleum Corporation (NNPC).

The demand by the senate committee is coming on the heels of its probe into the alleged mismanagement of the NLNG dividends’ accounts.

The committee specifically asked the CBN and the NNPC to include the 22 schedules of dividend payments and withdrawals from May 2015 without the National Assembly approval.

Chairman of the committee, Senator Bassey Akpan, also ordered the representatives of the two major institutions to include the process for the withdrawals and the authorising institutions in their submissions.

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Akpan said: “We want the NNPC to supply all the withdrawals on the NLNG accounts and all the supporting documents.

“The account belongs to Nigerians but you are running it in trust for the nation. We want details of the 22 withdrawals made which amounted to $3.12bn as well as other withdrawals which are 45 in all from 1999 till date.

“The CBN should also include in its submission, details of other individuals and institutions who also gave orders for withdrawals apart from the NNPC.”

The Chief Financial Officer of the NNPC, Isiaka Abdulrazaq and the acting Director, Banking Services Department of the CBN, Christopher Olomukoro, had informed the committee that the Minister of Finance also gave directives for withdrawals from the account.

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