This decision followed a motion moved by the House’s minority leader, Ndudi Elumelu, on Tuesday, in which he accused the NNPC of illegally withdrawing about $1.05 billion from NLNG funds.
He added that the NNPC management “illegally tampered” with the said amount without consultations with states and the appropriation by the National Assembly. “There are no records showing the audit and recovery of accrued funds from the NLNG by the Office of the Auditor-General of the Federation, hence the need for a thorough investigation of the activities on the NLNG dividends account,” he noted.He said the withdrawals breach the law which provides that the NLNG dividends are to be paid into the consolidated revenue funds account and shared among the three tiers of government.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reps investigate NNPC, NLNG over ‘$1.05bn withdrawals’The House of Representatives has resolved to summon the management of Nigerian National Petroleum Corporation (NNPC) and the Nigeria Liquefied Natural Gas (NLNG) over alleged withdrawals of $1.05bn from the NLNG dividends accounts. Read more:
Source: Daily Trust - 🏆 13. / 51 Read more »
Reps summon NNPC, NLNG over illegal $1.05bn withdrawals|div dir=
Source: MobilePunch - 🏆 8. / 63 Read more »
House of Reps summon NNPC, NLNG over illegal $1.05bn withdrawalsWe are a quality, national, newspaper with credible and dependable information.
Source: TheNationNews - 🏆 6. / 69 Read more »
House Probes Alleged Illegal Withdrawal of $1.05bn from NLNG Account by NNPC - THISDAYLIVEAdedayo Akinwale in Abuja 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 (NLNG) dividends account by the management of Nigerian National Petroleum Corporation (NNPC). The House ordered the investigation following the adoption of a motion of urgent national …
Source: THISDAY LIVE - 🏆 14. / 51 Read more »
Reps to investigate alleged withdrawal of $1.5 bn from NLNG accountThe House of Representatives has resolved to investigate the alleged illegal withdrawal of 1.05 billion dollars from Nigeria Liquefied..
Source: TheNationNews - 🏆 6. / 69 Read more »
FG to spend $1.45bn on Ajaokuta Steel, Iron Ore coyThe Minister of Mines and Steel Development, Olamilekan Adegbite, on Monday, hinted that the resuscitation of the Ajaokuta Steel Company and the National Iron Ore Mining Company (NIOMCO) projects will gulp about $1.45 billion (about N522 billion).
Source: Daily Trust - 🏆 13. / 51 Read more »