The Nigeria Liquefied Natural Gas, NLNG, Limited, has absoleved itself of blame over non-remittance of about $11.6billion (N2.32trillion) to the Federation Account as alleged by the Nigeria Extractive Industries Transparency Initiative, NEITI.

Kudo Eresia-Eke, general manager, External Relations, NLNG, said in an official statement that the company’s dividends were paid to shareholders, which include the federal government, represented by the Nigeria National Petroleum Corporation, NNPC, with 49 per cent, Shell Gas BV, SGBV, with 25.6 per cent, Total LNG Nigeria Limited, with 15 per cent, and Eni International (10.4 per cent).

The statement said NLNG said the NNPC received the dividends on behalf of the federal government and should remit to the Federation Account.

“NLNG remains responsible to its shareholders and pays dividends to them according to the shareholding structure. NLNG also wishes to emphasize that it continues to conduct all its businesses in full compliance with the laws of the Federal Republic of Nigeria and existing tax regulations, championing compliance and meeting all its applicable tax obligations to federal, state and local governments. A case in point is NLNG’spayment of $1.6 billion to the Federal Government recently as Company Income Tax and Education Tax for 2014 financial year,” Eresia-Eke stated.

Continuing, he said, “In line with our vision to help build a better Nigeria, NLNG supports the principles and objectives of NEITI, including the promotion of transparency in payments by extractive industry companies to governments and government-linked entities. Nigeria LNG remains the most significant arrow-head of the Federal Government’s continuing efforts to eliminate gas flaring and derive value from the country’s 187 trillion cubic feet of proven gas reserves.”