NLNG describes as “totally baseless and simply untrue” alleged $1.05bn dividend misappropriation by its MD

The Nigeria Liquefied Natural Gas Limited has dismissed as “totally baseless and simply untrue” allegations that its Managing Director/CEO, Mr. Tony Attah, in collusion with the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, squandered $1.05 billion from a dividend account to which both are signatories.

In a statement by its General Manager, External Relations and Sustainable Development, Eyono Fatayi-Williams, dated Thursday, July 16, 2020, the organization stated categorically that its role in such issues ends with the “payment of such dividend” to its shareholders.

The statement read: “The attention of Nigeria LNG Limited (NLNG) has been drawn to news reports on the investigation by the House of Representatives into alleged illegal withdrawal of US$1.05 billion from NNPC’s (NLNG) dividend account and allegations that our Managing Director/CEO Tony Attah and the GMD, NNPC, Mele Kyari are signatories to an account and have been moving and “squandering” monies belonging to the company without approval.

“For the purpose of clarity, NLNG wishes to state that the company, as a private limited liability company, duly pays dividends to its shareholders and continues to conduct its business in full compliance with regulations and the laws of the Federal Republic of Nigeria.

“NLNG strictly follows extant protocols in the payment of dividends as value generated from the business and ensures that the process concerning payment of dividends to its shareholders is transparent and in full compliance with the laws of the Federal Republic of Nigeria. Expectedly, NLNG’s involvement in the process ends with the payment of such dividend. The governance and controls around the Company’s finances also makes the allegations against the Managing Director and the GMD an impossible scenario and therefore members of the public are advised to disregard the allegations as it is totally baseless and simply untrue.

“NLNG also wishes to emphasize that it continues to bring value to both its shareholders and the country, utilising best practices in the industry to monetise gas resources and contribute to the socio-economic wellbeing of the country in line with its vision of helping to build a better Nigeria.”