Wednesday, June 15, 2016

NNPC: Unremitted $12.9 NLNG Dividend Reinvested

The Nigerian National Petroleum Corporation (NNPC) has said that part of the $12.9 billion dividends it received from the Nigeria Liquefied Natural Gas (NLNG), but failed to remit to the federation account as captured by the 2013 oil and gas sector audit report of the Nigeria Extractive Industries Transparency Initiative (NEITI), has been reinvested on new trains that were built by the NLNG.NNPC stated yesterday in Abuja at a stakeholders’ dialogue on the 2013 oil and gas audit report organsised by NEITI that the balance of the dividend has been moved to the Central Bank of Nigeria (CBN), in line with the federal government’s directive on the Treasury Single Account (TSA).

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