Senate Probes NNPC Over ‘Diverted’$1billion NLNG Dividend

Senate Probes NNPC Over ‘Diverted’$1billion NLNG Dividend

The Senate has begun an investigation of the diversion of one point zero five billion dollars from the Nigerian Liquefied Natural Gas dividend account by the Nigerian National Petroleum Corporation.

The upper chamber is specifically probing all withdrawals from the account and how the funds were spent.

The Chairman, Senate Committee on Petroleum (Gas), Senator Bassey Akpan, raised a point of order at the plenary on Tuesday to urge the lawmakers to probe the withdrawal and payments.

The probe was separated from an earlier one by the Senate on illegal payments by the Nigerian National Petroleum Corporation to augment the shortfalls between the landing cost and pump price of Premium Motor Spirit (petrol).

President of the Senate, Bukola Saraki, ruled that the committee should conduct the probe, decrying that the diversion would have been prevented if the panel had been enforcing its powers of oversight properly.

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