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APC alleges NNPC’s $1.2b moved from banks to CBN is part of missing NLNG dividends

Alhaji Lai Mohammed

Renews call for probe
THE All Progressives Congress (APC) has alleged that the
$1.2 billion, which the Nigerian National Petroleum
Corporation (NNPC) moved from commercial banks to the
Central Bank of Nigeria (CBN) is part of the missing
Nigeria Liquefied Natural Gas (NLNG) monies.

In a statement by its National Publicity Secretary, Alhaji
Lai Mohammed, the party renewed its call on the Federal
Government to probe the whereabouts of the dividends
paid to the NNPC by the NLNG, as well as the taxes paid
to the Federal Inland Revenue Service (FIRS) Federation
Account prior to the latest-news payment in June 2015.

The party said the call has 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withdrawn $1.2 billion from banks so it could place the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 CBN.

The party maintained that the move by the NNPC is a
panic reaction to the expose by the party (APC) that over
$4 billion are missing in past dividends paid to the NNPC
by the NLNG.

‘’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 account of the paid NLNG dividends
to date,’’ APC said.

The party said any delay in calling the officials to account
for the dividends may 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.

APC insisted that despite the attempt to pull the wool over
the eyes of Nigerians, the Federal Government must
remain undaunted in unraveling what happened to the
dividends as well as previous taxes paid by the NLNG, as
part of ongoing efforts to plug all financial leakages,
ensure the payment into the Federation Account of all
relevant funds and stop the looting of the treasury by
unscrupulous public officials who have opted to abuse
their office.

‘’It is not by accident that until the advent of the Buhari
administration that has decided to enthrone transparency
in governance, no one has heard anything about NLNG
dividends and taxes, while the funds therefrom 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 said.

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