Senate Invites 15 Companies To Account For 120bn CBN Fund

Add a Comment 37 Views
1 Min Read

ABUJA, Nigeria – Mediaage NG News – The Nigerian Senate has invited 15 companies, including Dangote Oil Refinery, NIPCO Gas Limited to give account of how over N120billion intervention fund disbursed to them by the Central Bank of Nigeria, was spent.

The companies according to the Senate, are beneficiaries of the disbursement from the Nigeria Gas Expansion Program (NGEP) Intervention Fund.

- Advertisement -
Ad image

They are expected to appear before the senate on Thursday, November 30.

“The invited companies are required to appear with their progress reports, stating location of projects and their current status”, read a statement by the Senate Committee on Gas.

The companies invited include: NIPCO Gas– N25billion, NIPCO PLC – N5billion, Hyde Energy – N2billion, Lee Engineering and Construction Company – N15billion, Pinnacle Oil and Gas FZE – N10billion, Transit Gas Limited – N8billion, Almagamated Oil Company Nigeria (AMOCON) – N5billion, Gas Nexus – N10billion, First Modular Gas Systems – N4.3billion, NOVAGAS– N1billion, Greenville Liquify Natural Gas Limited – N10billion, AP LPG Limited – N8billion, Dangote Oil Refinery – N5billion.

Others include the Delta State Government – N20billion and MOB Integrated Services Limited – N2.5billion.

Share This Article
Leave a comment