Nigeria LNG Limited (NLNG) has said that the payment of $27.5 million to the Federal Inland Revenue Service (FIRS) as a revised Company Income Tax (CIT) for 2016 was as a result of a mutually agreed settlement not a court order as reported by the media.
NLNG is a statement said that these reports misrepresent 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.
“The 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”, the statement added.
NLNG stressed that it 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.”
