The conflicting issues regarding the non remittance of about $11.6 billion an equivalent of N2.32 trillion to the federation account has been clarified by the management of the Nigeria LNG which was alleged by the Nigerian Extractive Industries Transparency Initiative (NEITI), according to a Daily Independent report.
The General Manager, External Relations (NLNG), Kudo Eresia-Eke,
has said in a statement that the company was owned by four
shareholders ( Nigerian National Petroleum Corporation, NNPC (49%), Shell Gas BV, SGBV, (25.6%), Total LNG Nigeria Limited (15%), and Eni International (N.A,) N. V. S.a. r. l (10.4%) and has remained responsible to them by paying
them dividends according to the
shareholding structure.
NLNG said it also wished to emphasize that it continues to conduct all its businesses in full compliance with the laws of the Federal Republic of Nigeria and
existing tax regulations, explaining that a case in point was the NLNG’s payment of $1.6 billion to the Federal Government recently as Company Income Tax and
Education Tax for 2014 financial year.
Furthermore, NLNG had earlier clarified that as a private limited liability company incorporated, it does not remit money into the federation account but instead pays its dividend to its shareholders.
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