APC, has again called on the
federal government to probe the
whereabouts of the dividends paid
to the Nigerian National Petroleum
Corporation, NNPC, by the Nigeria
Liquefied Natural Gas, NLNG, as
well as the taxes paid to the Federal
Inland Revenue Service, FIRS
Federation Account prior to the
latest payment in June 2015.
The party in a statement issued
yesterday in Lagos said the call
had become more urgent against
the backdrop of published reports
that the NNPC has withdrawn $1.2
billion from banks so it could place
the money with
The statement issued by its
national publicity secretary, Alhaji
Lai Mohammed, said the move by
the NNPC was a panic reaction to
the expose by the party that over
$4 billion was missing in past
dividends paid to the NNPC by the
“Whereas NLNG’s dividends
are paid to NNPC’s account with
JP Morgan, from where they are
supposed to be paid into the
Federation Account in accordance
with the law, some unscrupulous
officials of the corporation have
apparently been moving such
funds to local banks so they can
collect huge commissions on them.
“Now that the cat has been let
out of the bag, they have started
moving the funds from the banks
to the CBN. We believe what we
are seeing now is just a tip of
the iceberg, hence the need for
the authorities to call the NNPC
officials to give accounts of the paid
NLNG dividends to date,” APC
The party said any delay in
calling the officials to account for
the dividends might give them
enough time to cover their tracks,
in addition to the dangers posed
to the banks and by extension the
economy by the sudden withdrawal
of such a huge fund from the NNPC
accounts with them.
“The top officials of the NNPC
and others who met on Monday
and decided to withdraw the $1.2
billion from the corporation’s
account to the CBN must be asked
a number of questions, including
their motive for the decision and the
whereabouts of the commissions
paid on such funds,” it said.
“It is not by accident that
until the advent of the Buhari
Administration that has decided
to enthrones transparency in
governance, no one has heard
anything about NLNG dividends
and taxes, while the funds there
from have not been shared as they
should have been. This is not right.
“A situation in which funds
meant for all Nigerians are eaten
up by a few will no longer be
tolerated. Those who are opposed
to the efforts by the Buhari
Administration to clear the rot left
behind by the past government and
restore transparency to the system
are enemies of Nigeria,” the party

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