APC: Probe NNPC’s plan to move $1.2bn to CBN


allison-new-702x320The All Progressives Con­gress (APC) has renewed its call on the Federal Government to probe the whereabouts of the divi­dends paid to the Nigerian National Petroluem Cor­poration (NNPC) by the Nigerian Liquified Natural Gas (NLNG), as well as the taxes paid to the Fed­eral Inland revenue Service (FIRS) Federation Account prior to the latest payment in June 2015.

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Mohammed, the party said the call has be­come more urgent against the backdrop of published reports that the NNPC has withdrawn $1.2 bil­lion from banks so it could place the money with the Central Bank of Nigeria (CBN).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 exposition by the party (APC) that over $4 billion dollars were 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 from the NNPC accounts with them.

“The top officials of­ficials of the NNPC and others who met on Monday and decided to withdraw the $1.2 billion from the corporation’s account to the CBN must be asked a num­ber of questions, including their motive for the deci­sion and the whereabouts of the commissions paid on such funds,’’ it said. -The Sun News


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