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[Fraud Alert] $1.05bn NLNG Fund Missing – Senate

The Senate Committee on Gas Resources and the Nigerian National Petroleum Corporation (NNPC) said on Thursday there was no shortage of $ 1.05 billion from Nigeria’s Liquefied Natural Gas (NLNG) dividend account.

The chairman of the Senate Committee, Senator Bassey Akpan, and the Financial Director (CFO) of the NNPC, Mr. Isiaka Abdulrazaq, stated this at a meeting between committee members and NNPC officials in Abuja. Akpan and Abdulrazaq noted that, unlike media reports, the problem in question lies in the legality of the use of the NNPC of 1,050 million dollars for the importation of fuel, and not in the absence of the money.

The CFO stated that the NNPC is legally justified in the steps taken and that any problem that arises from them is for the interpretation or legal determination of the Judicial Power and is not within the scope of the National Assembly or the Executive.

NLNG Fund Missing - Senate

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