Dino Melaye Uncovers Alleged $137million NNPC Fraud

The Senator representing Kogi West Senatorial District in the National Assembly, Dino Melaye, has called the attention of the house to an alleged operation of a secret account by the Nigerian National Petroleum Corporation, NNPC, and other joint venture companies.

Melaye, during plenary on Tuesday raised the point of order wherein he alleged that the account which was supposed to be domiciled with the Central Bank of Nigeria, CBN, was instead domiciled with another commercial bank, Keystone Bank.

The account according to Dino Melaye also had no Bank Verification Number, BVN, and had a balance of $137m as of Tuesday.

He added before the house; “While some individuals and government appointees will continue to steal, we have decided to continue to expose corruption in public life. This morning, I call the attention of the Nigerian Senate to a suspected, colossal, monumental corruption in NNPC.

“A company was registered with the name ‘Brass LNG Limited’ with the Federal Government having controlling shares. We have some Italians, Belgians and French as shareholders, with the Federal Government with a controlling share of about 50 per cent.

“It is a known fact that once you have a joint venture, the account of such joint venture will be domiciled with the Central Bank of Nigeria. But in this case, that was not what happened. In private, the account was opened with Keystone Bank; this account has no BVN and there has been periodic withdrawals (from it).

“The last withdrawal from the account was to the tune of $4m. As I speak to you, the balance of that account as of tuesday is $137m.”

In reaction, the Senate President, Bukola Saraki, polled on the senators to bring the matter up during the next sitting, a demand which was granted.