NNPC operates an illegal dollar account containing $137 million - Dino Melaye
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NNPC operates an illegal dollar account containing $137 million – Dino Melaye

Dumebi Ifeanyi



Senator Dino Melaye has revealed that the Nigerian National Petroleum Corporation, NNPC is operating an illegal dollar account with Keystone Bank containing a sum of $137 million.

Melaye, who is the chairman of the Senate committee on FCT made the allegation on Tuesday. He raised a point of order saying that Brass LNG Ltd., Joint Venture Company(JVC) account was domiciled in Keystone bank instead of the Central bank of Nigeria, CBN as required by Law. He said;

“While some individuals and government appointees will continue to steal, we have decided to continue to expose corruption in public life. This morning, I call the attention of the Nigerian Senate to a suspected, colossal, monumental corruption in NNPC.

A company was registered with the name ‘Brass LNG Limited’ with the Federal Government having controlling shares. We have some Italians, Belgians, and French as shareholders, with the Federal Government with a controlling share of about 50 percent.

It is a known fact that once you have a joint venture, the account of such joint venture will be domiciled with the Central Bank of Nigeria. But in this case, that was not what happened. In private, the account was opened with Keystone Bank; this account has no BVN and there has been periodic withdrawals.

The last withdrawal from the account was to the tune of $4m. As I speak to you, the balance of that account as of today is $137m,” he said.

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Updated on February 8, 2019 at 11:56 am