Tuesday, 25 December 2018

No $1.05bn NLNG fund missing- Senate committee

No $1.05bn NLNG fund missing- Senate committee

No $1.05bn NLNG fund missing- Senate committee


The Senate Committee on Gas Resources and the Nigeria National Petroleum Corporation (NNPC) on Thursday says no 1.05 billion dollars is missing from the Nigerian Liquefied Natural Gas (NLNG) dividend account.
Chairman of the Senate Committee, Sen. Bassey Akpan, 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 utilisation of the 1.05 billion dollars by the NNPC for 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.
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