NNPC, others sign NLNG Train-7 contract

President Muhammadu Buhari has signed the Nigerian Financial Intelligence Unit (NFIU) Bill into law, which is expected to strengthen the Executive Order 6 and as well help to tackle terrorism financing.

Senior Special Assistant to the President on National Assembly Matters (Senate), Ita Enang, who stated this yesterday while briefing State House Correspondents, said NFIU is the Nigerian arm of the global Financial Intelligence Units (FIUs) domiciled in the Economic and Financial Crimes Commission (EFCC) as an autonomous unit operating in the African region.

Enang, who further said that the unit also had the responsibility to receive, request, analyse and disseminate financial intelligence to relevant agencies, said the unit would henceforth be domiciled in the Central Bank of Nigeria (CBN).

In another development, the Nigerian National Petroleum Corporation (NNPC), Shell, Total and Eni have signed the Front-End Engineering Design (FEED) contract of Train 7 of the Nigerian Liquefied Natural Gas Ltd (NLNG) yesterday in London.

The NLNG shareholders have also repaid $5.45 billion shareholders’ loan for Trains 1-6, NNPC said.

NNPC Group Managing Director, Maikanti Baru, who spoke at the occasion, expressed the corporation’s readiness to support the Federal Government’s aspirations to actualising Train-7 of the project.

Baru, who lauded President Muhammadu Buhari and Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, for their support, also commended the tireless efforts of the various working teams for working hard towards achieving the feat recorded so far.

Meanwhile, the President has congratulated the board, management, members of staff and shareholders of the NLNG, the NNPC and other joint venture partners, Shell, Total and AGIP, on the signing of the contracts for the Front-End Engineering Design (FFED) of Train 7 of the NLNG project.