Sunday, December 5, 2021

No $1.05bn NLNG Fund Missing- Senate Committee

The Nigerian Senate Committee on Gas Resources and the Nigeria National Petroleum Corporation (NNPC) on Thursday said no 1.05 billion dollars is missing from the Nigerian Liquefied Natural Gas (NLNG) dividend account.

Sen. Bassey Akpan, Chairman of the Senate Committee, and the Chief Financial Officer (CFO) of NNPC, Mr Isiaka Abdulrazaq, stated this at a meeting between members of the committee and NNPC officials in Abuja. Akpan and Abdulrazaq noted that contrary to media reports, the issue at stake is on the legality of the utilization of the 1.05 billion dollars by the NNPC for the importation of fuel, and not on whether or not the money is missing.

The CFO stated that the NNPC is legally justified in steps taken and that any issue emanating therefrom is for legal interpretation or determination of the Judiciary and not within the purview of the National Assembly or the Executive.

See here for the full report here

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