Falana seeks recovery of unremitted $34.2bn NLNG dividend

Human rights lawyer, Femi Falana (SAN), has written to the Minister of Finance, Wale Edun, seeking the recovery of $34.2 billion Nigeria Liquefied National Gas (NLNG) Company dividend between 2004 and 2021. In a letter dated October 24, 2023, Falana threatened to file an action at the Federal High Court for the immediate recovery of […]

Human rights lawyer, Femi Falana (SAN), has written to the Minister of Finance, Wale Edun, seeking the recovery of $34.2 billion Nigeria Liquefied National Gas (NLNG) Company dividend between 2004 and 2021.

In a letter dated October 24, 2023, Falana threatened to file an action at the Federal High Court for the immediate recovery of the said sum of $34.2 billion from the NNPCL. 

He said, “We shall also pray the Court to direct the NLNG to remit dividends earned by Nigeria to the Federation Account forthwith.”

According to Falana, the matter became open on April 27, 2019 during the Senate Committee on Public Accounts public hearing on revenue generation drive for the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP). 

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Falana said, “During the hearing, the NLNG General Manager, External Relations and Sustainable Development, Mrs Eyono Fatai-Williams, disclosed that from 1999 to 2019 the company paid dividends of over $18 billion to Nigeria through the NNPCL from 2004 to 2020. 

“She also revealed that the NLNG paid $9 billion tax to the federal government from 2011 to date while $15 billion had also been remitted for feed gas to the NNPC since the inception of the company.