Senate May Probe NNPC For Allegedly Diverting $141m To Private Acct

Senate May Probe NNPC For Allegedly Diverting $141m To Private Acct

The Senate will be investigating the Nigerian National Petroleum Corporation (NNPC) over the alleged diversion of Brass Liquefied Natural Gas, LNG, account worth $141 million to a private account in Keystone Bank.


This is the sequel to a Point of Order by Senator Dino Melaye, tagged, “Monumental Corruption” in NNPC, asking the Senate to set up a committee to probe why the money was domiciled in Keystone account.


Brass LNG is officially registered as a Joint Venture (JV) with NNPC with an overall controlling share of 49%. As far as the Nigerian law is concerned, accounts of (JVs) like Brass LNG are expected to be set up/register with the Central Bank of Nigeria (CBN).


The senator disclosed that as at now, the private account had no Bank Verification Number and that the sum of $4 million had been withdrawn from it leaving a balance of $137 million.


Senate eventually deferred the subject matter to another legislative day. There have been various allegations of over awards of contracts by the NNPC without the knowledge of the Minister of State for Petroleum, Dr Ibe Kachikwu.


At present, the NNPC has not been able to supply petroleum adequately to filling stations as fuel scarcity battles hard across the country.

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