The Nigerian National Petroleum Corporation (NNPC) is facing a fresh corruption scandal involving $137 million (app. N49.2 billion).
This indication emerged on Tuesday following a revelation by Senator Dino Melaye (Kogi West – APC) on the floor of the Senate.
Melaye said the corporation registered a company called Brass NLG with joint investors from Italy, Belgium, France, among others.
The senator accused the corporation of opening an account without Bank Verification Number (BVN) in a commercial bank with the registered company’s name and running millions of dollars through it without approval.
He said that this defied the statutory provision that the corporation’s accounts be domiciled with the Central Bank of Nigeria.
Melaye described the act as “colossal, monumental corruption” and urged the house to look into the matter.
“While some individuals and government appointees would continue to steal, we have decided to continue to expose corruption in public life. This morning (yesterday), I draw the attention of the Nigerian Senate, a suspected colossal, monumental corruption in NNPC.
“Mr. President, a company was registered with the name Brass NLG limited with the Federal Government having controlling shares and we have some Italians, Belgians, French people who are shareholders with the Federal Government in controlling shares of about 50 per cent.
“It is known fact that once you have a joint venture, the account of such joint venture should be domiciled with the Central Bank of Nigeria. But in this case, that was not what happened.
“This account has no BVN and there have been periodic withdrawals. The last withdrawal from that account was to the tune of $4 million. As I speak to you, the balance of that account as at today is $137 million.”
The Senate urged Melaye to bring a proper motion on the matter to enable the Upper Chamber deliberate on it.