Daily Trust: NLNG’s ‘Missing’ Dividends Must Be Recovered

The Buhari Presidency revealed recently that it got a request to probe the whereabouts of approximately $4 billion (some 800 billion naira at current rates) in taxes and dividends paid by the Nigerian Liquefied Natural Gas (NLNG) Ltd. According to the company’s Managing Director, Baba Omotowa the NLNG paid out over $30 billion to its shareholders over the past ten years.  Nigeria with a 49% stake is the single largest shareholder in the company, and there is some uncertainty as to which of the nation’s revenue accounts was the dividend paid into.

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