Don’t delay NNPC probe, APC tells Buhari

The All Progressives Congress (APC) has asked the federal government to probe the Nigerian National Petroleum Corporation (NNPC) without further delay. The party raised concern on the whereabouts of the dividend paid to the corporation by the Nigeria Liquefied Natural Gas Company (NLNG) as well as the taxes paid to the Federal Inland Revenue Service (FIRS) federation account prior to the latest payment in June 2015.
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In a statement issued in Lagos on Wednesday by Lai Mohammed, its spokesman, the party said the call had become more urgent against the backdrop of published reports that the NNPC had withdrawn $1.2 billion from banks so it could place the money with the Central Bank of Nigeria (CBN). APC said the move by the NNPC was a panic reaction to its revelation that over $4 billion was missing from past dividend that the NLNG paid to it. ”Whereas NLNG’s dividends are paid to NNPC’s account with JP Morgan,from where they are supposed to be paid into the federation account in accordance with the law, some unscrupulous officials of the corporation have apparently been moving such funds to local banks so they can collect huge commissions on them,” the APC said.

 ”Now that the cat has been let out of the bag, they have started moving the funds from the banks to the CBN. We believe what we are seeing now is just the tip of the iceberg, hence the need for the authorities to call the NNPC officials to give accounts of the paid NLNG dividends to date.” The party said any delay in calling the officials to account might give them enough time to cover their tracks. APC said the action of the corporation posed dangers to the banks – and by extension the economy, lamenting the “sudden withdrawal of such a huge fund from the NNPC accounts”.

”The top officials officials of the NNPC and others who met on Monday and decided to withdraw the $1.2 billion from the corporation’s account to the CBN must be asked a number of questions, including their motive for the decision and the whereabouts of the commissions paid on such funds,” it said. APC insisted that “despite the attempt to pull the wool over the eyes of Nigerians, the federal government must remain undaunted in unraveling what happened to the dividend as well as previous taxes paid by the NLNG, as part of ongoing efforts to plug all financial leakages, ensure the payment into the federation account of all relevant funds and stop the looting of the treasury by unscrupulous public officials who have opted to abuse their office.”

 ”It is not by accident that until the advent of the Buhari administration that has decided to enthrone transparency in governance, no one has heard anything about NLNG dividends and taxes,while the funds therefrom have not been shared as they should have been. This is not right. ”A situation in which funds meant for all Nigerians are eaten up by a few will no longer be tolerated. Those who are opposed to the efforts by the Buhari administration to clear the rot left behind by the past government and restore transparency to the system are enemies of Nigeria.”