The House of Representatives has ordered an investigation into the alleged illegal withdrawal of the sum of $1.05 billion from the Nigerian Liquefied Natural Gas dividends account by the management of Nigerian National Petroleum Corporation .
The House therefore mandated “its committee on public accounts to invite the managements of the NNPC as well as that of the NLNG to conduct a thorough investigation on activities that has taken place on the dividends account and report back to the house in four weeks”. He stressed that NLNG is jointly owned by the federal government with a shareholding of 49 per cent, Shell Gas B.V 25.6 per cent, Total LNG Nigeria LTD 15 per cent and ENI international 10.4 per cent.
Elumelu expressed worry that “the NNPC who represents the government of Nigeria on the board of the NLNG had unilaterally without the required consultations with states and the mandatory appropriation from the National Assembly illegally tampered with the funds at the NLNG dividends account to the tune of $1.05 billion, thereby violating the nations appropriation law”.
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