NLNG Denies Alleged $1.05bn Illegal Withdrawal

NLNG Denies Alleged $1.05bn Illegal WithdrawalThe Nigeria LNG Limited has described as untrue the allegation that its Managing Director/Chief Executive Officer, Tony Attah, and the Group Managing Director of the Nigerian National Petroleum Corporation illegally withdrew monies belonging to the company.

In the penultimate week, the House of Representatives had resolved to investigate the alleged illegal withdrawal of funds from the Nigerian LNG Limited amounting to $1.05bn by the NNPC.

The NLNG, in a statement on Thursday last week, said its attention had been drawn to “news reports on the investigation by the House of Representatives into alleged illegal withdrawal of $1.05bn from NNPC’s (NLNG) dividend account and allegations that our Managing Director/CEO, Tony Attah, and the GMD, NNPC, Mele Kyari, are signatories to an account and have been moving and ‘squandering’ monies belonging to the company without approval.”

The statement was signed by The General Manager, External Relations and Sustainable Development, NLNG, Eyono Fatayi-Williams.

It said, “For the purpose of clarity, the 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.

“Expectedly, NLNG’s involvement in the process ends with the payment of such dividend.

“The governance and controls around the company’s finances also makes the allegations against the Managing Director and the GMD an impossible scenario and therefore members of the public are advised to disregard the allegations as it is totally baseless and simply untrue.”

According to the statement, the NLNG strictly follows extant protocols in the payment of dividends as 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.

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