Search NaijaAgroNet

Thursday, July 16, 2020

US$1.05bn withdrawal: NLNG says allegation is baseless - ITREALMS


The Nigeria LNG Limited (NLNG) has described as baseless, the allegation of illegal withdrawal of US$1.05billion from NNPC’s (NLNG) dividend account and linked to its Managing Director/CEO Tony Attah and the GMD, NNPC, Mele Kyari who are signatories to the account.

NLNG also denied allegation of moving and "squandering" monies belonging to the company without approval.

A press statement from NLNG available to NaijaAgroNet pointed out that for the purpose of clarity, NLNG wished 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.

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. 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.

NLNG also wishes to emphasize that it continues to bring value to both its shareholders and the country, utilising best practices in the industry to monetise gas resources and contribute to the socio-economic well-being of the country in line with its vision of helping to build a better Nigeria.

Isaac Oyimah/Editor

... Linking agrobiz, sustainable environs, people & technology

No comments:

Post a Comment

Share ur views here