How Police Recovered $470.5m, N8bn NNPC Funds Hidden In Commercial Banks

The police said they had 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, Punch Metro reports.

The force disclosed that another N8.8bn belonging to the NNPC/LNG which was also not remitted to the TSA Account was equally recovered.

The police spokesman, acting DCP Jimoh Moshood, said in a statement in Abuja on Thursday, that the police, in addition, recovered N114.2m from 23 electoral officers in connection with December 10, 2016, National and State Assembly re-run election in Rivers State.

He 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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