Nigeria Police Recover $470.5m, N8bn NNPC Funds Hidden In Commercial Banks

 

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The Nigeria police has said they have recovered $470.5m belonging to the Nigerian National Petroleum Corporation’s Brass Liquefied Natural Gas hidden in some commercial banks, in violation of the directives of the Federal Government on Treasury Single Account.

Police spokesman, Jimoh Moshood, disclosed this in a statement in Abuja on Thursday, saying another N8.8bn belonging to the NNPC/LNG, which was also not remitted to the TSA Account, was equally recovered.

Inn addition, the police recovered N114.2m from 23 electoral officers in connection with December 10, 2016, National and State Assembly re-run election in Rivers State, the statement added.

Mr. Moshood said, “As a result of these efforts, the Nigeria Police Force recovered the following monetary and non-monetary assets for the Federal Government:

“The sum of $470,519,889.10 belonging to NNPC BRASS/LNG investment hidden in some commercial banks after the directives of the Federal Government on TSA.”

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