Again, Senate Launches NNPC Corruption Investigation
Separating Nigeria’s oil company, the Nigeria National Petroleum Corporation, NNPC from corruption scandals is becoming increasingly difficult by the day.
One cannot easily recall how many corruption probes the national assembly has carried out on the corporation within the last one year alone.
Yet again, the Senate has announced it will hold an investigation into alleged corruption involving NNPC’s long-awaited Brass LNG project, including questions over the use of government funds.
The NNPC liquefied natural gas project has been stuck in the planning stages for more than a decade, with some Western partners having pulled out because of tough operating conditions and an unfavourable investment environment.
On Wednesday, the Senate voted to launch the investigation of Brass LNG and its banking records, according to a Senate motion document.
However, a spokesman for NNPC said the company has not received an invitation from the Senate regarding the investigation, declining to provide further comment.
The Brass LNG company was originally set up in 2003, with NNPC owning 49% and affiliates of Conoco Phillips, ENI and Chevron each holding 17%, according to the Senate motion, citing corporate records.
Chevron pulled out of the project in 2006 and no longer has an interest, a company spokeswoman said. Conoco Phillips has also dropped out of the project.
In 2008 Total said that it had taken a stake in Brass LNG, without specifying the size.
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