 |
| CBN Gov Godwin Emefiele |
Twenty-two withdrawals totalling 3.12 billion dollars were made from the Nigerian Liquefied Natural Gas (NLNG) dividends account domiciled in the Central Bank of Nigeria (CBN) in the last three years.
This is according to documents submitted to the Senate Committee on Gas Resources by the CBN in Abuja on Thursday.
Chairman of the committee, Sen. Bassey Akpan, read out the figures when officials of the CBN and the Nigerian National Petroleum Corporation (NNPC) appeared before the committee.
The committee was looking into the 1.05 billion dollars that the NNPC admitted withdrawing from the NLNG dividend account to “augment under-recoveries” in the importation of petrol.
NLNG is a gas firm jointly owned by the Federal Government and three multinational oil companies namely Shell, Total and Eni.
The NNPC, which represents the government in the gas company, holds 49 per cent of the shares.
Shell owns 25.6 per cent, Total 15 per cent and Eni 10.4 per cent.
The lawmakers are angry that the NNPC acted beyond its powers by unilaterally drawing from the NLNG dividends, without recourse to the National Assembly or other tiers of government.
According to them, dividends from the NLNG are supposed to be paid into the Consolidated Revenue Fund of the Federation, to be shared among the federal, state and local governments.
But the Group Managing Director of the NNPC, Mr. Maikanti Baru, told the Senators recently that the corporation acted in line with its establishment act.
According to Baru, Section 7 (4)(b) of NNPC Act empowers the corporation to fund its operations from revenues generated by it.
He said the action was necessitated by the need to sustain the supply of petrol across the country following the withdrawal of independent oil marketers from importation after the stoppage of fuel subsidy in 2016.
At Thursday’s hearing, Akpan directed the NNPC, represented by its Chief Financial Officer, Mr Isiaka Abdulrazak, to furnish the committee with all the originating mandates for the 22 withdrawals.
The senator gave the directive after Abdulrazak said upon enquiry from the lawmakers, that the NNPC was the operator of the account.
However, a new twist was added to the matter when Akpan asked the CBN’s Acting Director of Banking Services, Mr. Christopher Olomukoro, whether authorisation for withdrawal from the account came from any other entity or government official other than the NNPC.
Olumokoro answered in the affirmative, saying the CBN “also accepts withdrawal mandates from the Minister of Finance.”
“So, who runs the account? Is it a joint account between the NNPC and the Federal Ministry of Finance?” Akpan asked.
The CBN director answered: “No, but the issue here is that the Honourable Minister of Finance also has the power to submit mandates in respect of that account.”
At this point, Akpan said that out of the 22 withdrawals, the CBN submitted mandates for only seven, which he said came from the NNPC.
He wondered why the mandates from the Minister of Finance were not included.
This elicited reactions from members of the committee, who requested for all the 22 withdrawal mandates in custody of the CBN from both the minister and NNPC.
They also directed the NNPC to provide the originating mandates and letters of approvals for its withdrawals from the account.
The committee gave the agencies till Nov. 30 to provide the documents and adjourned sitting till Dec. 4.
AFRO DATE ORG//ADD US ON WHATSAPP +2348107906879
ReplyDeleteAFRO DATE AGENCY(08107906879)
GET CONNECTED TO THE MOST RICHEST SUGAR MUMMIES, SUGAR DADDIES, GAYS & LESBIAN CONNECTION SERVICES BALOGUN JOSEPH... 08107906879
WE HAVE CONNECTION IN ALL THE STATE IN NIGERIA, GHANA, COTONOU, TOGO, CAMEROUN, IVORY COAST AND SOUTH ffAFRICA, WE ALSO HAVE SERVICES IN BOTH EUROPE AND AMERICAN COUNTRIES SUCH AS USA, UK, GERMANY, BRAZIL, HOLLAND, CANADA, MALAYSIA AND SOME OTHER OVERSEA COUNTRIES, MAXIMUM SECURITY IS GUARANTEE FROM ANY SERVCE WE GIVE TO YOU ,this is a 1st class dating Organisation, registered, licenced, we have top class people, both men and women, boys and girls, looking for opportunity to mingle and be friends, we have high class and rich sugar mummies, sugar daddies and lesbian single ladies and mummies, who are top shots, the likes ofpoliticians, directors, bankers, managers, executives, enterpreneur, oil barons, we have clients outside nigeria in Uk, South Africa, Ghana, Beninrepublic, Dubai, Usa.Metrodate has track records of providing you with the elite money clients in our organisation, peolpe willing to assist you financially, help you in procuring contracts, job Opportunities, business opportunity and even assisting you above your limit, we remain reliable, capable at what we do and we remain the only registered Dating Agency in Nigeria, rated number 1 by google and also awarded by Ovasion magazine and naija entertainment for best coordinated and secure dating agency and the only agency registered on Vconnect in Nigeria, with track records of testimonies on our website and the only agency with a Facebook like page and a personal Facebook with office in Abuja and office in Tamale ghana, we have clientsLagos, Abuja, Calabar, port, Benin, Delta, Ibadan, Kwara, Jos, Kaduna, Osun, Lokoja, Enugu, Anambra, Imo and also in Benue state, we look forward in meeting you at our office and offering you a 1st class reliable service with guaranteed outcome, you are also advised to check us upVanguardonline, Thisday, ekolist, hint, and also on the lagos city magazine, we have qualified hands that can assist you in your request and if you want singles relationship within your age range that might lead to relationship and even marriage its practically free on the website just go and create a free profile for yourself, but if you want our advance services such as sugar mummies and daddies its only for registered members only, we also assist you in getting Fashion jobs, modeling jobs, ushering jobs and also helping you and training you in being a brand ambassador.welcome to LOVE CONNECT SUGAR MUMMY AGENCY were your dreams can be realised, and heaven help those who help themselvesStart calling its your chance dial 08107906879 - for Nigerians onlyinternational calls only +2348107906879,Facebook id--Balogun Kunle Joseph
Official Websites--www.theloveconnections.com
Official Magazine---loveconnection Magazine
Mobile Phone NUmber--08107906879
Afro Date Service Team. 2019. All rights reserved