Nigerian senate demands probe of $18bn NLNG dividend to NNPC

The Accountant-General of the Federation, Mr Ahmed Idris, has been directed by the Nigerian Senate to investigate the $18.32bn, which the Nigerian Liquefied Natural Gas Limited claimed to have paid as dividend to the Nigerian National Petroleum Corporation between 2004 and 2020.

Chairman, Senate Joint Committee on Finance and National Planning, Solomon Adeola, gave the directive at the ongoing stakeholders public hearing on the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper.

The General Manager (External Relations and Sustainable Development) of NLNG, Mrs Eyono Fatai-Williams, had appeared before the panel to present the financial activities of the company from 1999-2019.

Fatai-Williams told the panel that the company paid a dividend of over $18bn to NNPC from 2004 to 2019, while emphasissing that the NLNG was committed to a culture of transparency and integrity.

She also disclosed that the NLNG remitted $9bn as tax to the Nigerian Government from 2011 to date, adding that additional $15bn had also been remitted for field gas to the NNPC since inception of the company.