Senate probes NNPC over $141m in private account

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By Henry Umoru

ABUJA—THE Senate yesterday resolved to investigate the Nigeria National Petroleum Corporation, NNPC, to know how Brass Liquefied Natural Gas, LNG, account worth $141 million allegedly ended in a private account domiciled with Keystone Bank.

NNPC

The decision of the Senate was sequel to a Point of Order by Senator Dino Melaye, who begged that the Senate should as a matter of urgency, confirm the veracity of the alleged ‘monumental corruption’ in NNPC.

Brass LNG is registered as a Joint Venture (JV) with NNPC with a controlling share of 49.

Under the Nigerian law,  accounts of (JVs) like Brass LNG are required to be domiciled with the Central Bank of Nigeria (CBN).

Melaye who asked the Senate to investigate how the account of Brass LNG worth $141 million was not kept with the CBN but lodged in a private account with Keystone Bank, said, “Mr. President it is…



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