The management of Nigeria LNG Limited (NLNG) has clarified certain media reports corcerning the payment of $27.5m to the Federal Inland Revenue Service, FIRS.
The media reports had suggestied that a Tax Appeal Tribunal had ordered NLNG to pay $27.5 million to the Federal Inland Revenue Service (FIRS) as a revised Company Income Tax (CIT) settlement for 2016.
However , a release by Andy Odeh ,Manager, External Relations and Sustainable Development , LNNG, in its clarification indicated that the said reports misrepresented an out-of-court settlement that was reached amicably between the parties, without prejudice to their respective legal positions which the Tribunal merely adopted as Consent Judgment in the appeal.
According to this release the he payment by NLNG was thus made in furtherance of a settlement agreement reached between the parties and not because of any order made by the Tribunal.
Consequently, the management noted that NlLNG “remains a responsible corporate citizen, and consistently operates in compliance with Nigerian laws and will continue to operate in line with its vision of being “a globally competitive LNG company helping to build a better Nigeria.”
