$141 Million Liquefied Natural Gas Scandal Rocks Keystone Bank

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An alleged swindle of  $141 Million Gas scandal involving Keystone Bank and Nigeria National Petroleum Corporation, NNPC, has been be discovered by the Senate.

In an order 42 of the Senate rules raised by Senator Dino Melaye, he said a company, Brass LNG Limited was registered with the Federal government having a controlling share of 50%, speaking further he said; “the company is a joint venture between the Federal government of Nigeria, NNPC and some Italians.” He also hinted further that the account domiciled privately with Keystone bank instead of the federation account with the Central Bank of Nigeria (CBN).

According to Senator Melaye, the account domiciled with Keystone bank has no bank verification number, which he added that, made it possible for the illegal withdrawal of an alleged $4 million leaving a balance of $137 million.

“Mr. President, distinguished colleagues, I rise through order 42 of Senate rules to address the course of our nation.”

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“Mr. President it is a known fact that when you have a Joint Venture (JV), the account of such JV will be domicile with the CBN, but in this case that was not what happened.”

“There was a monumental and colossal corruption at the NNPC over a joint venture company, Brass LNG Limited with the FG having a controlling share of 50%.”

“Instead of using the federation account at the CBN for proceeds of the joint venture transactions, the NNPC domiciled the account with Keystone bank without BVN and as I speak, the sum of $4million has been withdrawn.”

The Senate President, Bukola Saraki asked that the matter be brought in form of motion to enable debate at another legislative day.


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