NNPC operating illegal bank accounts without BVN, Senate claims

The Nigerian National Petroleum Corporation (NNPC), was on Tuesday, named by Dino Melaye in a new multi-million dollar fraud scandal.

According to Senator Melaye who spoke at plenary, NNPC is involved a “monumental corruption.” He said the national oil company registered a company by the name Brass NLG.

He said the company is jointly owned by investors from Italy, Belgium, France, among others.

He said contrary to statutory provisions that the account of the company be domiciled in the Central Bank of Nigeria (CBN), NNPC and its partners, instead, opened an account with a commercial bank.

He further claimed that the said account has no Bank Verification Number (BVN), but added that monies running into millions of dollars have been withdrawn so far.

READ ALSO : CRUDE LIFTING: How NNPC, DPR, oil firms cheat Nigeria

Melaye said: “While some individuals and government appointees would continue to steal, we have decided to continue to expose corruption in public life. This morning (Tuesday), I draw the attention of the Nigerian Senate, a suspected colossal, monumental corruption in NNPC.

“Mr. President, a company was registered with the name Brass NLG limited with the federal government having controlling shares and we have some Italians, Belgians, French people who are shareholders with the Federal Government in controlling shares of about 50 per cent.

“It is known fact that once you have a joint venture, the account of such joint venture should be domiciled with the Central Bank of Nigeria. But in this case, that was not what happened. An account was opened with Keystone bank.

“This account has no BVN and there have been periodic withdrawals. The last withdrawal from that account was to the tune of $4 million. As I speak to you, the balance of that account as at today is $137 million.”

President of the Senate, Bukola Saraki, who presided, sought the leave of his colleagues to allow Melaye sponsor a proper motion.

When the motion was put to a voice vote, lawmakers voted in the affirmative.
By Ehisuan Odia…

 

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