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    All Africa: Nigeria - NNPC Blames Non-Remittance of N2.32 Trillion NLNG Dividends on Ongoing Reconciliation

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Summary

Nigeria's NNPC has said that its delay in remitting $11.6 billion into the Federation Account is because of ongoing reconciliation issues with NLNG

by: Erica Mills

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Press Notes, Africa

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All Africa: Nigeria - NNPC Blames Non-Remittance of N2.32 Trillion NLNG Dividends on Ongoing Reconciliation

The Nigerian National Petroleum Corporation (NNPC), yesterday, confirmed that it is yet to remit $11.6 billion, about N2.32 trillion, into the Federation Account, blaming its inability to remit the Nigerian Liquefied Natural Gas, NLNG, dividends on an ongoing reconciliation process.

The NNPC, in a statement by Mr. Ohi Alegbe, Group General Manager, Group Public Affairs Division, stated that contrary to the impression created by the Nigeria Extractive Industries Transparency Initiative, NEITI, that nothing was being done to get the money remitted, the matter has since been referred to the Inter-Ministerial Task Team (IMTT) for reconciliation and resolution.

Read the full article HERE.

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