Wednesday, January 27, 2021

Reps summon Ahmed, Emefiele over $21bn NLNG funds, 1.2tn proceeds

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The House of Representatives, on Thursday, summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed; Governor of the Central Bank of Nigeria, Godwin Emefiele; and the Accountant General of the Federation, Ahmed Idris, over alleged illegal withdrawal of $21bn from the Nigeria Liquefied and Natural Gas Limited’s Dividends Account between 1999 and 2020.

The House Committee on Public Accounts issued the summons after a presentation by the Group Managing Director, Nigeria National Petroleum Corporation, Mele Kyari, who argued that the deductions from the NLNG Dividends Account were approved by relevant authorities, namely Federal Ministry of Finance, CBN and NNPC.

Kyari, who was represented by the Chief Financial Officer, NNPC, Umar Ajiya, stated that the proceeds from the Dividends Account were the Federal Government’s share of revenues from oil shared among the federal and state tiers of the Federation.

While noting that NNPC sits on the NLNG board on behalf of the Federal Government, he said proceeds from the investment were managed and disbursed or dispensed or utilised, based on the instruction of the Federal Government.