House of Rep to investigate $1.05 billion withdrawals from NLNG account

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The house of Representatives has resolved to investigate alleged illegal withdrawals from the Nigerian Liquefied Natural Gas (NLNG) dividends account by the management of the Nigerian National Petroleum Corporation NNPC.

The House’s resolve was sequel to a motion by a member from Delta State Mr Ndudi Elumelu during plenary.

Elumelu stated that the dividends from the NLNG are supposed to be paid into the consolidated revenue funds account of the federal government and to be shared among the three tiers of government.

The lawmaker said without due consultation with the states and the mandatory appropriation from the National Assembly, the NNPC illegally tampered with the dividends account to the tune of $1.05 billion.

According to him, there was no transparency in the extra budgetary spending as only the group managing director and the corporation’s chief financial officer has the
knowledge of how the funds were spent.

He expressed concern that there are no records showing the audit and recovery of accrued funds from the NLNG dividends account.

Adopting the motion, the house mandated its Committee on public account to invite the management of NNPC and that of NLNG to conduct a thorough investigation and report back in four weeks.