Senate Directs AGF To Probe $18bn NLNG Dividends

Senate Joint Committee on Finance and National Planning has directed the Accountant General of the Federation (AGF), Ahmed Idris, to investigate the payment of $18.323billion being dividends accrued to the country from the Nigeria Liquefied Natural Gas (NLNG) Limited, between 2004 and 2020.

Chairman of the Committee, Senator Solomon Adeola, gave the directive following disclosures from NLNG officials during the panel’s stakeholders’ interactive session on the 2021-2023 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), in Abuja.

Adeola, according to a statement by his Special Adviser on Media, Kayode Odunaro, in Abuja, the AGF was mandated to investigate the amount was actually remitted to the Nigerian National Petroleum Corporation (NNPC) and how much was actually remitted to the Federation Account.

The AGF was also to determine if there was any deduction by NNPC, how much was deducted and who authorized the deductions as well as the exchange rates that applied for the amount that was remitted over the years under reference.

According to the statement, Mrs. Eyono Fatai-William, the general manager (External Relations and Sustainable Development) of NLNG had presented a financial summary of the company from 1999-2019 and said the NLNG had paid a dividend of over $18 billion to Nigeria between 2004 and 2019.

Fatai-William also insisted that the NLNG is committed to a culture of transparency and integrity.

However, when Adeola asked the Accountant General of the Federation, to confirm if the dividend was actually paid into the Federation Account, he said it was difficult to immediacy determines if it had been paid because the dividend is usually paid to the NNPC – that represents the Federal Government in the NLNG.

Adeola therefore directed the Accountant General to investigate the payment and report back to the Senate within two weeks.

Nigeria has about 53 per cent shares in the NLNG, according to the statement.

Related Articles

97 COMMENTS

  1. I’ve been exploring for a bit for any high quality articles or blog
    posts in this kind of space . Exploring in Yahoo I finally stumbled upon this site.
    Reading this information So i am satisfied to show that I’ve an incredibly just right
    uncanny feeling I discovered just what I needed. I most without a doubt will make certain to don?t
    fail to remember this site and provides it a look on a relentless basis.

    Also visit my web blog: lovewiki.faith

  2. you’re really a good webmaster. The site loading velocity is incredible.
    It seems that you are doing any distinctive trick.
    Furthermore, The contents are masterwork. you have done a wonderful job on this matter!

    Feel free to surf to my web blog – view more

  3. Definitely believe that which you said. Your favorite justification seemed to
    be on the web the easiest thing to be aware of. I say to you, I certainly get annoyed while people think about worries
    that they plainly don’t know about. You managed to hit the nail
    upon the top and defined out the whole thing without having side-effects , people can take a signal.
    Will probably be back to get more. Thanks

    My website – trade-britanica.trade

  4. Thanks for one’s marvelous posting! I truly enjoyed reading it,
    you happen to be a great author. I will always bookmark your blog and may come
    back at some point. I want to encourage you to
    ultimately continue your great writing, have a nice day!

    Also visit my web blog – 0uzw.com

  5. Simply want to say your article is as astonishing.

    The clearness to your publish is simply cool and that i can think you’re knowledgeable in this subject.
    Fine together with your permission let me to seize your RSS feed to stay up to date with coming
    near near post. Thanks a million and please keep up the gratifying work.

    Here is my page :: sy714.net

  6. With havin so much written content do you ever run into any problems
    of plagorism or copyright violation? My website has a lot
    of unique content I’ve either created myself or outsourced
    but it seems a lot of it is popping it up all over the web without my agreement.
    Do you know any methods to help protect against content from being ripped off?
    I’d genuinely appreciate it.

    My homepage lgmbk.in.ua

  7. First off I want to say superb blog! I had a quick question which I’d like to ask if you don’t mind.
    I was curious to find out how you center yourself
    and clear your head before writing. I have had a tough
    time clearing my mind in getting my thoughts out. I do take pleasure in writing but it just seems like
    the first 10 to 15 minutes are generally lost just trying to
    figure out how to begin. Any recommendations or hints?

    Cheers!

    Feel free to surf to my web page … http://zeromanual.com/index.php?title=The_Right_Way_To_Get_A_Fabulous_Minecraft_On_A_Tight_Funds

  8. Hi would you mind letting me know which web host you’re
    using? I’ve loaded your blog in 3 completely different web browsers and I must say
    this blog loads a lot faster then most. Can you suggest a good hosting provider at a fair
    price? Many thanks, I appreciate it!

    my website: alasiilat.com

  9. I’m really impressed along with your writing abilities as well as
    with the format to your blog. Is this a paid topic or did you customize it yourself?
    Anyway keep up the excellent quality writing, it’s uncommon to peer a great blog like this one nowadays..

    My web site … discuss

  10. Today, I went to the beachfront with my kids. I found a sea shell and gave it to my
    4 year old daughter and said “You can hear the ocean if you put this to your ear.” She
    put the shell to her ear and screamed. There was a hermit crab inside and it pinched her ear.
    She never wants to go back! LoL I know this is totally off topic but I had to tell someone!

    my web-site … 5alij.com

  11. With havin so much written content do you ever run into any issues of plagorism or copyright violation?
    My website has a lot of unique content I’ve either written myself or outsourced but it seems a lot of it is popping it up all
    over the web without my authorization. Do you know any techniques to help protect against content from being ripped off?
    I’d genuinely appreciate it.

    Feel free to surf to my blog: 7b6.cc

  12. I absolutely love your blog and find most of your post’s to be just what I’m looking for.
    Does one offer guest writers to write content available for you?
    I wouldn’t mind producing a post or elaborating on a lot of the subjects you write related to here.
    Again, awesome website!

    Feel free to visit my site brewwiki.win

  13. Excellent site you have here but I was wondering if
    you knew of any community forums that cover the same topics discussed in this article?
    I’d really love to be a part of group where I can get
    opinions from other knowledgeable people that share the same interest.

    If you have any recommendations, please let me know.
    Kudos!

    My homepage: firsturl.de

  14. Howdy, I believe your website could possibly be having internet browser
    compatibility issues. Whenever I take a look at your web site in Safari, it looks
    fine however when opening in IE, it has some overlapping issues.

    I just wanted to provide you with a quick heads up!
    Aside from that, wonderful website!

    Review my web page; rockymountdisciples.org

  15. Excellent post. I was checking constantly this blog
    and I am impressed! Very helpful information specifically the last part 🙂 I care for
    such info a lot. I was seeking this particular information for a long time.
    Thank you and good luck.

    Here is my web blog – mashaleilm.com

  16. I believe that is one of the such a lot important info for me.
    And i’m satisfied studying your article. However should commentary on some general things, The site style is wonderful,
    the articles is in reality great : D. Excellent activity, cheers

    Also visit my web site :: 로미로미

Stay Connected.

1,169,000FansLike
34,567FollowersFollow
1,401,000FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles