Melaye says there’s $137m fraud in NNPC

Dino Melaye, senator representing Kogi west, has alleged that there is a $137 million fraud in the Nigerian National Petroleum Corporation (NNPC).

Speaking on the floor of the senate on Tuesday, Melaye said Brass NLG, a company which the federal government has controlling shares in, has an account domiciled in Key Stone bank.

He said hidden funds are kept in that account which “does not have a bank verification number (BVN)”.

“While some individuals and government appointees would continue to steal, we have decided to continue to expose corruption in public life,” the senator said.

“This morning I draw to the attention of the Nigerian senate, a suspected colossal, monumental corruption in NNPC. Mr. President, a company was registered with the name Brass NLG limited with the federal government having controlling shares and we have some Italians, Belgians, French people who are shareholders with the federal government in controlling shares of about 50 percent.

“It is known fact that once you have a joint venture, the account of such joint venture should be domiciled with the Central Bank of Nigeria. But in this case, that was not what happened. An account was opened with Key Stone Bank, this account has no BVN and there have been periodic withdrawal.

“The last withdrawal from that account was to the tune of $4 million. As I speak to you, the balance of that account as at today is $137 million.”

The senate resolved that the motion be brought on another day for further legislative action.

Ndu Ughamadu, spokesman of the NNPC, could not be reached for reaction as he neither answered his calls nor replied a text message sent on Tuesday evening.