05bn by the Nigerian National Petroleum Corporation.
Consequently, the House mandated its Committee on Public Accounts to “invite the management of the NNPC as well as that of the NLNG, to conduct a thorough investigation on activities that have taken place on the dividends account and report back to the House in four weeks.” He noted that the NLNG is jointly owned by the Government of Nigeria, represented by the NNPC, with a shareholding of 49 per cent, while Shell Gas B.V has 25.6 per cent; Total LNG Nigeria Ltd, 15 per cent; and ENI International, 10.4 per cent.
“The House is worried that the NNPC, which 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 $1.05bn, thereby violating the nation’s appropriation law.
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