- The Nigeria Police Force (NPF) says the amount was recovered in various commercial banks
- The police reveal that that the accounts are in violation of the directives of the federal government on Treasury Single Account (TSA)
- The police spokesperson, Jimoh Moshood, gives details of the recovery
The Nigeria Police Force (NPF) has announced it recovered $470.5 million belonging to Brass Liquefied Natural Gas of the Nigerian National Petroleum Corporation (NNPC) hidden in some commercial banks in violation of the directives of the federal government on Treasury Single Account (TSA).
The police revealed that it recovered another N8.8 billion belonging to the NNPC/LNG and which was also not remitted to the TSA.
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The Punch quotes the spokesperson of the police, Jimoh Moshood, as saying in a statement in Abuja on Thursday, September 20, that the security agency in addition, recovered N114.2 million from 23 electoral officers in connection with December 10, 2016, National and state Assemblies re-run election in Rivers.
“As a result of these efforts, the Nigeria Police Force recovered the following monetary and non-monetary assets for the Federal Government:
“The sum of $470,519,889.10 belonging to NNPC BRASS/LNG investment hidden in some commercial banks after the directives of the Federal Government on TSA,” the statement said.
NAIJ.com earlier reported that the Nigerian National Petroleum Corporation on Tuesday, August 14, announced plans to relocate a brownfield refinery with a production capacity of 100,000 barrels per day (bd) formerly owned by BP Plc from Turkey to Nigeria.
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Maikanti Baru, the group managing director, NNPC, disclosed this while speaking on efforts being made to achieve self-sufficiency in local refining besides the rehabilitation of Nigerian refineries.
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Source: Naija.ng