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Nigerian lawmakers order probe into $18 bln NLNG dividend

Published 28/08/2020, 12:10
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ABUJA, Aug 28 (Reuters) - Nigerian lawmakers have instructed
the country's most senior accountant to investigate payments
totalling $18 billion as dividends from Nigeria's investment in
Nigeria Liquefied Natural Gas (NLNG) between 2004 and 2019, a
Senate statement said.
NLNG is a consortium between state-run Nigerian National
Petroleum Corporation (NNPC), Eni ENI.MI , Total TOTF.PA and
Royal Dutch Shell RDSa.L .
An NLNG spokeswoman did not immediately respond to a request
for comment.
The Senate, parliament's upper house, has ordered the
accountant general to investigate the dividend payments, it said
in a statement issued on Thursday, without giving details of
what wrongdoing, if any, it suspected.
"The accountant general was mandated to investigate among
other things if the amount was actually remitted to NNPC, how
much was actually remitted to the Federation Account, if there
is any deduction by NNPC, how much was deducted and who
authorized the deductions," it said in its statement.
The move followed the participation of NLNG officials in a
Senate committee hearing on the country's budget plans for 2021
to 2023.
Eyono Fatai–William, NLNG's general manager on external
relations, presented a financial summary of the company in which
she said it had paid a dividend of over $18 billion to Nigeria
from 2004-2019.
Accountant General Ahmed Idris said it was "difficult to
determine with any certainty" the details of the dividend paid
to NNPC, according to the Senate statement.
The chairman of the committee told Idris to investigate the
payments and report back to the Senate in two weeks.
Nigeria's lawmakers have ramped up their scrutiny of
financial management issues since President Muhammadu Buhari
came to office in 2015 vowing to plug leakages in state coffers.

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