There are reports of alleged under-declaration and under-remittance of the NLNG dividends, which the Chairman of the Senate Committee on Finance, Senator Olamilekan Adeola, said was being investigated.Adeola said it had become important to ascertain the records and unearth how the dividends were deducted; for what purposes and whether such deductions were justifiable.
According to some documents available to our correspondent, the $15,822,713,000. 00 dividends came from the NLNG between 2000 and 2014.But the funds were neither paid into the Consolidated Revenue Fund of the Federation nor any traceable account of the Federal Government.
Brass project was to be funded over a period of five years as follows: Year One ; Year Two; Year Three; Year Four and Year Five. Total is $7.85billion. “We want to know what exactly our revenue generating agencies are contributing to our annual budget and NLNG is one of our revenue agencies. “With the $18 billion NLNG dividends declared to this committee, we discovered variation in what was declared and what was remitted into the government account.