NLNG ACCOUNT AND THE UNTOLD STORY
Recently, the dividend account of Nigerian Liquefied Natural Gas account has come under scrutiny by the Senate over what the Senate tagged illegal withdrawal from the account.
The development necessitated the setting up of a committee by the Senate led by The Chairman, Senate Committee on Gas, Senator Bassey Akpan.
The Akpan panel was mandated by the Senate, two weeks ago, to probe the $1.05bn which the NNPC withdrew from the accounts in April this year without authorization by relevant authorities.
However the committee has made several revelations which shows that apart from the $1.05bn, other withdrawal has been made from the account.
According to the presentation made to the Akpan committee on Wednesday by the Chief Operating Officer (Finance) at the CBN, Babatunde Adeniran,the committee observed series of cash debiting from the account from November 2016 to June this year totalling $2.201bn.
The worrisome amounts withdrawn with no support by required approving documents as observed by the committee are $86,546,526m withdrawn from the account on November 22, 2016, allegedly being payment on Paris Club loans to the Nigerian Governors Forum, and the $1.05bn withdrawn on April 17, 2018, as National Fuel Support Fund, $650m withdrawn from the account on June 7 this year to offset the Joint Venture Cash Call by the NNPC which ordinarily supposed to be a budget item payment, and $415, 063m withdrawn from the account also in June without clear explanation on the purpose for which it was meant for.
The development in The NLNG account has got many persons asking questions which are yet to be answered.
God bless NIGERIA.
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