The Senate Committee on Gas on Wednesday said it has uncovered a fresh illegal withdrawal of $1.15 billion from the dividends accounts of the Nigerian Liquefied Natural Gas (NLNG) by the Nigeria National Petroleum Corporation (NNPC).

This latest revelation is different from the $1.05 billion which the Group Managing Director of the NNPC, Maikanti Baru had earlier admitted was withdrawn under directives from the presidency.

Dividends from the NLNG are meant to be shared by the federal, state and local governments of Nigeria and the funds are supposed to be paid into the Consolidated Revenue Fund of the Federation rather than spent unilaterally by any tier of government.

Two weeks ago, the Senate Committee on Gas was mandated by the Senate to probe the $1.05 billion which the NNPC withdrew from the accounts in April this year without authorization by relevant authorities.

During Wednesday’s plenary, the Chairman of the Committee, Senator Bassey Akpan explained that the $1.05 billion was withdrawn to bridge the gap of losses being suffered by the corporation on landing cost of imported fuel which is ₦185 compared to the pump price of ₦145.

The committee subsequently ordered the NNPC and the Central Bank of Nigeria (CBN) to submit documents relating to the withdrawals made from the NLNG dividends account within the last two years.

While going through the NLNG documents presented to it on Wednesday by the Chief Operating Officer (Finance) at the CBN, Babatunde Adeniran, the committee observed a series of cash debited from the account from November 2016 to June this year totalling $2.201 billion.

The breakdown of the withdrawals not supported by required approving documents as observed by the committee are $86.5 million withdrawn from the account on November 22, 2016, allegedly being payment on Paris Club loans to the Nigerian Governors Forum and the $1.05 billion withdrawn on April 17, 2018 as National Fuel Support Fund.

Others are $650 million withdrawn from the account on June 7 this year to offset the Joint Venture Cash Call  and $415, 063 million withdrawn from the account also in June without clear explanation on the purpose for which it was meant for.

Not satisfied with the series of withdrawals, the Senate panel ordered officials of the CBN and the NNPC who represented their bosses on Wednesday to forward to it, latest by Tuesday next week, supporting and approving documents for the withdrawals.

“From the available documents before us, apart from the $1.05 billion that we are mandated by the Senate to investigate, we have also discovered that several withdrawals were made from the NLNG dividends account without the required supporting documents to back them.

“This is unacceptable to us. We are also not happy that the GMD of NNPC and CBN Governor are not here personally. We are, therefore not going to continue with the session today.

“Both the NNPC and the CBN must furnish this committee with other relevant documents on the withdrawals latest by Tuesday next week and the NNPC GMD, the Corporations Group Executive Director, Finance, Isiaka Abdulrasak, and the CBN Governor, Godwin Emefiele, must also appear before us,” Senator Akpan said.

Akpan said a document tagged ‘Memo NNPC GMD 49’ signed by Mr. Maikanti Baru and sent through the Chief of Staff to the President, Abba Kyari had no clear-cut language of a request for approval for the withdrawal of the $1.05 billion but a mere notification.

He added: “Approval for withdrawal from such fund was supposed to be given by the National Economic Council being an account or dividends owned by the three tiers of government.”