The Nigerian National Petroleum Corporation (NNPC) on Tuesday said parts of the $12.9 billion dividends it received from the Nigeria Liquefied Natural Gas (NLNG) Ltd on behalf of the federation but which it did not remit over a period of eight years was not missing but reinvested into other gas projects. The corporation also said the balance of the dividend has been moved to the Central Bank of Nigeria (CBN), adding that it was no longer housing the money in line with the federal government’s directive on the Treasury Single Account (TSA). NNPC stated these in Abuja when the Nigeria Extractive Industries Transparency Initiative (NEITI) convened a stakeholders’ dialogue on the 2013 audit report of activities in Nigeria’s oil and gas industry. It said that it took and ploughed back parts of the dividends to new trains that were built by the NLNG. It equally listed the […]