Keystone Bank said that Abubakar Malami, Attorney-General of the Federation, instructed that a part of the $136 million belonging to the Nigeria National Petroleum Corporation (NNPC) should be paid in Naira.

The bank made this known during a hearing of the Ad-hoc Committee on Assessment and Status of all recovered loots, Movable and Immovable Assets, covering loots and assets from 2002 to 2020 by agencies of the federal government. Peoplesgazette reports.

See Other Top News:

• Nigerian Govt. Set To Start Sale of 5,000 Housing Units in 34 States
• Tony Elumelu Foundation Sponsors Another Set Of 5000 SMEs from 54 African countries
• Department Of Petroleum Resources Past Questions in PDF Format
• CBN celebrates 488,000 eNaira wallet downloads from 160 countries

Mr Malami also stated that a total of $136,676,600.51 was to be paid to NNPC and that 96 million be paid in dollars, while 40 million should be paid in naira. Information Guide Nigeria

According to Lawal Ahmed, the Executive Director, North and Public Sector Directorate, Keystone Bank: “Out of this entire amount, we paid $96 million in United States dollars and we paid the equivalent of $40 million in naira”.

Mr Lawal also said that Mr Malami recommended the exchange rate at N305 to a dollar.

“That was the directive by the Attorney-General at the rate of N305 to a dollar,” Mr Ahmed noted, although it is unclear when the transactions were carried out”. jamb results

When the chairman of the committee, Adejoro Adeogun, queried why funds meant for Brass LNG Investment account was remitted in a different account, Mr Ahmed stated that the bank had remitted all funds belonging to the NNPC.

“We were paying into the Brass LNG’s NNPC account in the TSA and at the time the Attorney-General gave the directive, he instructed that the funds be credited to the FGN Assets Recovery Account,” the bank official said.

Check and Confirm: How much is Dollar to Naira today         Pounds to Naira today