Friday, 21 September 2018

Police Uncovers $470.5m, N8bn NNPC Funds Hidden In Commercial Banks


The police have uncovered $470.5m belonging to the Nigerian National Petroleum Corporation’s Brass Liquefied Natural Gas.

It was gathered that the fund was hidden in commercial banks, a contravention of the Federal Government directive on the Treasury Single Account.

In addition, police said there was another N8.8bn belonging to the NNPC/LNG that was also not remitted to the account.

In a statement on Thursday, the police noted that it also recovered N114.2m from 23 electoral officers in connection with December 10, 2016, National and State Assembly re-run election in Rivers state.

The statement said: “As a result of these efforts, the Nigeria Police Force recovered the following monetary and non-monetary assets for the Federal Government: the sum of $470,519,889.10 belonging to NNPC BRASS/LNG investment hidden in some commercial banks after the directives of the Federal Government on TSA.”

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