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SENATE TO INVESTIGATE NNPC, KEYSTONE BANK OVER DIVERSION OF $141M LNG FUND

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SENATE TO INVESTIGATE NNPC, KEYSTONE BANK OVER DIVERSION OF $141M LNG FUND

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The Senate on Tuesday concluded plans to investigate the Nigerian National Petroleum Corporation and Keystone Bank on how $141 million Brass Liquified Natural Gas fund allegedly ended in a private pocket.
The debate for the motion is scheduled to hold on Wednesday.
Calling the attention of the Senate on the allegation, Senator Dino Melaye, who came in through a point of order, said the information available to him revealed that $4 million has been withdrawn from the account.
Melaye how such amount of money could be kept in a private pocket instead of the Central Bank of Nigeria.
Melaye said: “Mr. President, it is a known fact that when you have a Joint Venture, the account of such JV will be domicile with the CBN, but in this case that was not what happened.
“The last withdrawal from that account was to the tune of $4 million.
“Mr. President, as I speak to you, the balance of that account as at today is $137 million.”
After Melaye’s presentation, the Senate unanimously agreed to debate the matter on the next legislative day (Wednesday).

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