NNPC still holding FG’s $15.8bn, says NEITI

The Nigeria Extractive Industries Transparency Initiative (NEITI) says the Nigerian National Petroleum Corporation (NNPC) is yet to remit $15.8 billion collected from Nigeria Liquefied Natural Gas (NLNG) to the federation account.

Speaking in Abuja on Tuesday, Peter Ogbobine, legal director of the agency, disclosed that the figure was the accumulation from 2000 to 2014.

He said although NEITI had presented a report to that effect, no action had been taken against NNPC.

“When NLNG started operating, it paid dividend to the NNPC but the corporation was claiming that it was supposed to be the owner of the shares in NLNG and not the federal government,” Ogbobine said.

“When NLNG pays the money to the NNPC, it used some of it to run its operations.

“But we are saying no; that this money, once it is paid to them by NLNG, it should go straight to the federation account and it has been accumulating over the years.

“We always bring it to the burner anywhere we go, that this money has to be remitted to the federation account.”

He called on the federal government to compel NNPC to remit the amount into the federation account for the benefit of all Nigerians.

Back in June when Waziri Adio, executive secretary of the agency, presented an audit report of the allocation to the upper chamber of the national assembly, Senate President Bukola Saraki had vowed that actions would be taken.

“I can assure you that we will discuss this report fully… we will take action. We will task the executive to prosecute those who are culpable,” he had told Adio.