NNPC’s plan to move $1.2bn to CBN linked to missing NLNG dividends – APC

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The All Progressives Congress (APC) has renewed its call on the
Federal Government to probe the whereabouts of the dividends paid to the Nigerian National Petroleum Corporation, NNPC by the Nigerian Liquefied Natural Gas, NLNG.
The party also demands that the taxes paid to the Federal Inland Revenue Service, FIRS Federation Account prior to the latest payment in June 2015 should be probed.
In a statement issued in Lagos on Wednesday by its National Publicity Secretary, Lai Mohammed, the party said the call has become more urgent against the backdrop of published reports that the NNPC has withdrawn $1.2 billion from banks so it could place the money with the Central Bank of Nigeria (CBN).
It said the move by the NNPC is a panic reaction to the expose by the party (APC) that over $4 billion are missing in past dividends paid to the NNPC by the NLNG.
“Whereas NLNG’s dividends are paid to NNPC’s account with JP Morgan, from where they are supposed to be paid into the Federation Account in accordance with the law, some unscrupulous officials of the corporation have apparently been moving such funds to local banks so they can collect huge commissions on them.
“Now that the cat has been let out of the bag, they have started
moving the funds from the banks to the CBN. We believe what we are seeing now is just a tip of the iceberg, hence the need for the authorities to call the NNPC officials to give accounts of the paid NLNG dividends to date,” APC said.
The party said any delay in calling the officials to account for the dividends may give them enough time to cover their tracks, in addition to the dangers posed to the banks – and by extension the economy – by the sudden withdrawal of such a huge fund …Read More

Source:: New Mail