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NLNG Dividends Account: NNPC Must Clarify $3.16bn Withdrawal …Issues One-Week Ultimatum -Senate Insists
The Senate, yesterday gave the Nigerian National Petroleum Corporation (NNPC) an ultimatum of one week to provide it with details of 22 withdrawals from Nigeria Liquidfied Natural Gas (NLNG) dividends account which amounts to a total sum of $3.1 billion within two weeks.
The Senate has also asked the Acting Director of Banking Services of Central Bank of Nigeria, CBN, Mr Christopher Olumukore, who stood in for CBN Governor, Godwin Emefiele to also submit within one week “all the withdrawal authorisation you had including all the originating mandates and all the approvals”.
According to the Senate, the NNPC would submit the details of withdrawals from May 2015 till date. Speaking in Abuja during the investigation by the Senate Committee on Gas on the alleged $1.05 billion withdrawn from the Nigeria National Petroleum Corporation, NNPC, dividend in the Nigeria Liquefied Natural Gas, NLNG, Chairman of the committee, Senator Albert Akpan, PDP Akwa Ibom North East, directed the NNPC to furnish the committee with all dividends accruing from the NLNG and all withdrawals from the account since 2015.
Senator Akpan expressed dissatisfaction with the documents submitted to the committee by the NNPC, lamenting that the nation’s oil corporation failed to present back up documents for the 22 withdrawals by NNPC from NLNG dividends account.
According to him, the corporation has up till November 30 to supply the committee secretariat with comprehensive list of the 22 withdrawals totalling $3.2 billion made from the NLNG dividend account with the CBN since 2015, adding that the committee would reconvene on December 13 to look at all the submissions by both NNPC and CBN”.
Meanwhile, the committee was told that over 45 withdrawals were made from the NLNG dividend accounts with the Central Bank of Nigeria, CBN, since 1999.
In his presentation, the Chief Financial Officer, CFO, of NNPC, Mr Isiaka Abdulrasaq, who stood in for Group Managing Director of NNPC, Mr Maikati Baru disclosed to the Senate committee at its meeting in Room 224, Senate New Building that since the NLNG Dividend Account was opened with the CBN in 1999, not less than 45 withdrawals had been made in the account.
Abdulrazaq however told the committee that the investigation should begin from 1999 when the account was established, just as he said that 44 withdrawals were made out that account till now.
In trying to speak further and shed more light on the total cost of the withdrawals, the Chairman of the committee stopped Abdulrazaq, saying that was not the information required from him by the committee.
The committee through Senator Emmanuel Paulker, PDP, Bayelsa Central opposed the NNPC that they only needed details of withdrawals from 2015 till date.
Also in his reaction, Senator Osinachukwu Ideozu (Rivers West) however expressed concerns over the competence of Abdulrasaq to occupy the CFO position in NNPC against the backdrop of how he confronted the committee members.
At this point, Akpan told Abdulrazaq that he cannot dictate to the committee how to go about its findings “so you must abide by our rules of engagement and not teach us our work”.
According to him, from the brief the NNPC submitted to the committee, there were a lot of missing links which the committee will require to do its job. But, the Executive Director of Finance (NNPC) opposed the Chairman of the committee, noting that NNPC had provided the schedule of dividends received from 2015 till date, but the supporting documents were still being combined.
Meanwhile, at the meeting, Olumukore had earlier told the committee that the dividend account domiciled with the apex bank was being operated by both NNPC and Ministry of Finance.
According to him, mandates for withdrawal from the account were usually from the NNPC and on some occasions from the Finance Minister. It would be recalled that the Senate Committee on Gas last week said it had uncovered a fresh illegal withdrawal of $1.15 billion from the dividends accounts of the Nigerian Liquefied Natural Gas by the Nigerian National Petroleum Corporation.
The new revelation is different from the $1.05 billion which the Group Managing Director of the NNPC, Maikanti Baru, had earlier admitted to that was withdrawn following a presidential directive.
Nneka Amaechi-Nnadi, Abuja
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We’ll Be Intentional In Our Support To Improve NYSC Scheme -Fubara
Rivers State, Sir Siminalayi Fubara, has assured members of the National Youth Service Corps (NYSC) of his administration’s commitment to supporting and strengthening the scheme in the State.
Fubara gave the assurance last Friday at the NYSC permanent orientation camp, Nonwa-Gbam, Tai Local Government Area in the State, during the swearing-in ceremony of 2026 Batch B Stream II orientation course.
Represented by the Permanent Secretary, Cabinet Bureau, Office of the Secretary to the State Government, Dr. Promise Oguzie, the governor said the State Government would remain intentional in providing the necessary support to improve the NYSC scheme and enhance the experiences of corps members deployed to the state.
He charged the corps members to be role models and quality nation-builders in their service to the good people of Rivers State in particular, and Nigeria at large.
“I charge you to be exemplary, dedicated and committed in all you do. Take full advantage of all the camp programmes and activities to enrich yourselves”, he said.
In his welcome address, the State Coordinator of NYSC in Rivers State, Mr. Moses Oleghe, urged corps members to see their deployment to Rivers State as a “veritable opportunity to make meaningful contribution to the growth of the State in particular and Nigeria at large.”
He further charged them to serve with all sense of “integrity, discipline, and the fear of God, especially when they will be engaged as INEC ad-hoc staff that will conduct the 2027 general elections.”
A total of 3,584 corps members composed of 1,421 males and 2,163 females were sworn in by the Chief Judge of Rivers State, who was represented by Justice Godspower Aguma.
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Fubara: Nigeria Needs God-fearing Leaders To Make Progress …Applauds Seventh Day Adventist
Governor of Rivers State, Sir Siminalayi Fubara, says Nigeria needs God-fearing leaders for the nation to move in the right direction and make meaningful progress.
The Governor stated this yesterday when he received in audience, the World President of the Seventh Day Adventist Church, Pastor Erton Kohler; his wife, Andriene Marques Kohler; daughter Mariana Marques Kohler and a retinue of ministers of the church at Government House, Port Harcourt.
Fubara who hailed the Seventh Day Adventist Church for its contributions to education and the grooming of future leaders in Nigeria, expressed delight that the Church had over the years, been investing in education at various levels and currently runs two universities in the country.
He commended the church for not only using its institutions to spread the gospel of Christianity but to groom future leaders for the country.
According to him, religion should not be just about defending one’s faith, but also making meaningful impact on the lives of the people.
He said that by floating these educational institutions, the church has demonstrated capacity to support Nigeria in the task of producing not only educated people but a breed of God-fearing leaders.
“Our country is where it is today because we lack the fear of God. If you have the fear of God, there should be a limit to what you can do because you understand the supremacy of God. But when God is not in your equation, you’ll go beyond the line and that is what has brought us to where we are today.
“So, I feel very happy that you are contributing to the development of our future leaders in this country. We need the right people being in the right place; prepared properly with good minds; that is what we need, not just in Nigeria but round the whole world.,” he said.
Governor Fubara further observed that the absence of God-fearing people in high places to take the right decisions that could impact positively on the society, has also given rise to other problems such as social inequality, poverty, corruption and criminality. According to him, Nigeria needs a system where the average parent could afford quality education for their children and a guarantee that upon graduation, the average child will have the capacity to compete favourably with anybody, anywhere in the world.
“If we have a situation where the little money that you’re being paid as wage can also afford you quality healthcare and after working at least for 15-20 years, you have a roof over your head, tell me why you should be involved in any kind of crime? At that point, you’ll feel secured and this attitude of insecurity about the future that leads to all the social vices we have today won’t be there,” he said.
Governor Fubara expressed appreciation to the delegation for the visit and for their prayers for Rivers State, assuring them of his continued support for their programmes in the state.
Leader of the delegation and World President of the Seventh Day Adventist Church, Pastor Erton Kohler said he was in Nigeria for a special conference of the church during which thousands of the church’s ministers will be undergoing an empowerment programme to further equip them for the task of herding their flocks and serving the society.
He expressed gratitude to the Governor for the warm reception accorded his entourage, saying the memory of the visit will linger in his mind for a lifetime.
Kohler disclosed that the Church has over twenty -four million (24,000,000) members and more than 182,000 places of worship, spread across 212 countries of the world.
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Rivers Assembly Approves Fubara’s 2026–2028 MTEF
The Rivers State House of Assembly has approved the 2026–2028 Medium Term Expenditure Framework (MTEF) submitted by Governor Siminalayi Fubara.
This reaffirms the lawmakers’ commitment to enacting laws and taking legislative actions geared towards the overall development of the State.
The Assembly gave the approval during its Second Legislative Sitting of the Fourth Session held last Friday.
Speaking on the MTEF document during plenary, the House Speaker, Rt. Hon. Martin Amaewhule, noted that by the provision of Section 10(1)(b) of the Rivers State Fiscal Responsibility Law No. 8 of 2010, the MTEF ought to have been laid before the House in September 2025.
Amaewhule explained that traditionally, the document is expected to be presented four months before the commencement of the next financial year and immediately after the expiration of every three-year fiscal cycle.
He, however, stated that in the interest of the State and its people, the House considered it necessary to deliberate on the document, describing it as a precursor to the 2026 Budget Estimates.
The Speaker expressed concern that the year had already progressed significantly before the presentation of the framework.
During deliberations on the document, members examined the assumptions and projections contained in the MTEF and observed that strict adherence to the outlined fiscal parameters would ultimately serve the interest of Rivers people.
The lawmakers maintained that effective implementation of the framework would promote prudent financial management and enhance developmental planning across the State.
Following the debate and positive consideration by members, the Speaker put the question to the House and members voted overwhelmingly in support of the approval of the MTEF.
Meanwhile, during the same sitting last Friday, the House also received a petition from the Chairman of Obio/Akpor Local Government Council, Dr. Gift Worlu.
The petition was presented by the member representing Obio/Akpor Constituency II, Hon. Emilia Amadi.
According to the petition, concerns were raised over an imminent security breach, threats to lives, destruction of property and alleged forceful takeover of property by some lawless persons within parts of the Local Government Area.
Presenting the petition before the House, Hon. Amadi appealed to the lawmakers to revisit the matter and take necessary steps aimed at safeguarding lives and property in the affected communities.
The House is expected to further deliberate on the petition and consider measures to address the concerns raised in order to sustain peace and security in the area.
King Onunwor
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