‘NNPC yet to remit $15.8bn to FG account’

by Azeez Adeniyi

The Nigeria Extractive Industries Transparency Initiative has said despite its report, the Nigerian National Petroleum Corporation is yet to remit $15.8bn collected from Nigeria Liquefied Natural Gas to the Federation account.

Director Legal, NEITI, Peter Ogbobine, said in Abuja on Tuesday that the figure was the accumulation from 2000 to 2014.

He said no action has been take against NNPC despite a report it presented to the Federal Government.

He said, “When LNG started operating, it paid a dividend to the NNPC but the corporation was claiming that it was supposed to be the owner of the shares in LNG and not the Federal Government.

“When the LNG pays the money to the NNPC, it used some of it to run its operations.

“But we are saying no; that this money, once it is paid to them by LNG, it should go straight to the Federation Account and it has been accumulating over the years.

“We always bring it to the burner anywhere we go, that this money has to be remitted to the federation account.”

He urged the Federal Government to compel NNPC to remit the money.

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