The Nigeria Liquefied Natural Gas, NLNG has described allegations of illegal withdrawal of $1.05 billion from the NLNG’s dividend accounts as an impossible scenario and therefore urges members of the public to disregard the allegations.
The company also urged Nigerians to disregard allegations that its Managing Director/CEO Tony Attah and the GMD, Nigerian National Petroleum Corporation, NNPC, Mele Kyari are signatories to the account and have been moving and “squandering” monies belonging to the company without approval.
Read also: Expectations As NLNG Signs Construction Contract for Train 7 to Boost Output
The NLNG in a statement by Eyono Fatayi-Williams, General Manager, External Relations, and Sustainable Development posited that the governance and controls around the Company’s finances made the allegations against the Managing Director and the GMD an impossible scenario.
“For the purpose of clarity, NLNG wishes to state that the company, as a private limited liability company, duly pays dividends to its shareholders and continues to conduct its business in full compliance with regulations and the laws of the Federal Republic of Nigeria,” the statement said.
“NLNG strictly follows extant protocols in the payment of dividends as the value generated from the business and ensures that the process concerning payment of dividends to its shareholders is transparent and in full compliance with the laws of the Federal Republic of Nigeria. Expectedly, NLNG’s involvement in the process ends with the payment of such a dividend.”
NLNG in the statement also emphasized that it continued to bring value to both its shareholders and the country, utilizing best practices in the industry to monetize gas resources and contribute to the socio-economic wellbeing of the country in line with its vision of helping to build a better Nigeria
Recall that the House of Representatives had opened an inquiry into reported illegal withdrawals coming to $1.05 billion from the NLNG’s Dividends Account.
The resolution came on the heels of a motion named ‘Need to Investigate the Illegal Withdrawals from the NLNG Dividends Account by the Management of NNPC.’ Minority Leader Ndudi Elumelu moved the motion for its adoption.
